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ICICI Prudential Life Insurance reported a 29 per cent year-on-year (YoY) drop in net profit in October – December quarter (Q3) of FY23, due to higher outgo in terms of claims and benefits, and higher expenses. Its net profit for the quarter stood at Rs 221 crore in the period under review, compared to Rs 311 crore in the year-ago period.
The insurer earned net premium to the tune of Rs 9,465 crore, up 4.30 per cent from the corresponding period a year-ago.
Its value of new business (VNB) increased 20 per cent YoY to Rs 618 crore
The insurer earned net premium to the tune of Rs 9,465 crore, up 4.30 per cent from the corresponding period a year-ago.
Its value of new business (VNB) increased 20 per cent YoY to Rs 618 crore
