ICICI Prudential total collection grows 56 pc

Friday 21, November, 2008 MANGALORE: ICICI Prudential Life Insurance has posted a growth of 56 per cent in total premium collection at Rs 6,726 crore for the half year ended on September 30, this year, a top official of the company said. The company posted a growth of 56 per cent in garnering total received premium-new business plus renewal of Rs 6,726 crore against Rs 4,311 crore during the corresponding period in the financial year 2007, company's Senior Vice-President and Head-Finance Satyan Jambunathan told reporters here on Monday. Renewal premium, one of the key indicators of long-term sustainability of the business, showed strong growth of 90 per cent and stood at Rs 3,423 crore for 2008-09, he said. The new business retail weighed premium for the half year ended September 30, this year, stood at Rs 2,650 crore and increased by 22 per cent compared with the same period in fiscal 2008 and the Annualised Premium Equivalent (APE) for the half year ending September 30, stood at Rs 2,760 crore and increased by 25 per cent compared with the corresponding period of last year, he said. The company's New Business Profit (NBP) stood at Rs 522 crore and company continues to be the leading life insurance player with a new business market share of 13.5 per cent for the half year ended September 30, 2008, which is significantly higher than our market share of 12.7 per cent for the year ended on March 31, this year, Jambunathan said.

[ Back to News Room ]

Back to Top^