npavan78
22-10-2008, 10:02 AM
Amid rumours of foreign partner Prudential exiting from life insurance business, ICICI Prudential Life Insurance today posted a growth of
56 per cent in total premium collection at Rs 6,726 crore for the first-half ended September.
During the same period last year the total premium earned by the insurer stood at Rs 4,311 crore. 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 crores for the same period, the insurer said in a statement.
The new business retail weighed premium for the half-year ended September 30 stood at Rs 2,650 crore and increased by 22 per cent compared with same period last year, it said.
The company's new business profit stood at Rs 522 crore, it said adding it has underwritten over 12.85 lakh policies.
56 per cent in total premium collection at Rs 6,726 crore for the first-half ended September.
During the same period last year the total premium earned by the insurer stood at Rs 4,311 crore. 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 crores for the same period, the insurer said in a statement.
The new business retail weighed premium for the half-year ended September 30 stood at Rs 2,650 crore and increased by 22 per cent compared with same period last year, it said.
The company's new business profit stood at Rs 522 crore, it said adding it has underwritten over 12.85 lakh policies.