ICICI Pru Life FY11 PAT at Rs 808 cr

Private sector ICICI Bank today said its life insurance subsidiary -- Company (ICICI Life) -- has clocked a (PAT) for at Rs 808 crore as against Rs 258 crore in the previous fiscal.

Assets increased by 19% to Rs 68,150 crore as on March 31, 2011, from Rs 57,318 crore in the year-ago period, the bank said in a press release issued here.

The other subsidiary, ICICI Lombard General Insurance Company (ICICI General) has clocked a loss of Rs 80 crore in 2010-11.

"The company has provided Rs 272 crore during Q4 2011 towards additional motor pool losses pursuant to the order of March 12, 2011. After taking the same into account, ICICI General reported a loss of Rs 80 crore," it said.

Its gross premium income in FY11 increased 28% to Rs 4,408 crore from Rs 3,431 crore in the year-ago period.

A majority of other subsidiaries, including ICICI Securities, the asset management company and international subsidiaries in Canada and the UK had a flat year in FY11, the bank said.

Profit from the AMC was at Rs 72 crore, while ICICI Securities' profit was at Rs 110 crore, it said. Its Canadian subsidiary's profit was at Canadian dollar 33 million, while the profit from the UK subsidiary stood at $37 million, it said.

The bank's Chief Executive and Managing Director, Chanda Kochhar, said international subsidiaries accounted for around 25% of the bank's overall business in FY11 and it will keep it in the 22-25% range for the ongoing FY12.

image
Business Standard
177 22
Business Standard

ICICI Pru Life FY11 PAT at Rs 808 cr

Press Trust of India  |  Mumbai 



Private sector ICICI Bank today said its life insurance subsidiary -- Company (ICICI Life) -- has clocked a (PAT) for at Rs 808 crore as against Rs 258 crore in the previous fiscal.

Assets increased by 19% to Rs 68,150 crore as on March 31, 2011, from Rs 57,318 crore in the year-ago period, the bank said in a press release issued here.

The other subsidiary, ICICI Lombard General Insurance Company (ICICI General) has clocked a loss of Rs 80 crore in 2010-11.

"The company has provided Rs 272 crore during Q4 2011 towards additional motor pool losses pursuant to the order of March 12, 2011. After taking the same into account, ICICI General reported a loss of Rs 80 crore," it said.



Its gross premium income in FY11 increased 28% to Rs 4,408 crore from Rs 3,431 crore in the year-ago period.

A majority of other subsidiaries, including ICICI Securities, the asset management company and international subsidiaries in Canada and the UK had a flat year in FY11, the bank said.

Profit from the AMC was at Rs 72 crore, while ICICI Securities' profit was at Rs 110 crore, it said. Its Canadian subsidiary's profit was at Canadian dollar 33 million, while the profit from the UK subsidiary stood at $37 million, it said.

The bank's Chief Executive and Managing Director, Chanda Kochhar, said international subsidiaries accounted for around 25% of the bank's overall business in FY11 and it will keep it in the 22-25% range for the ongoing FY12.

RECOMMENDED FOR YOU

ICICI Pru Life FY11 PAT at Rs 808 cr

Private sector ICICI Bank today said its life insurance subsidiary -- ICICI Prudential Life Insurance Company (ICICI Life) -- has clocked a profit after tax (PAT) for FY11 at Rs 808 crore as against Rs 258 crore in the previous fiscal.

Private sector ICICI Bank today said its life insurance subsidiary -- Company (ICICI Life) -- has clocked a (PAT) for at Rs 808 crore as against Rs 258 crore in the previous fiscal.

Assets increased by 19% to Rs 68,150 crore as on March 31, 2011, from Rs 57,318 crore in the year-ago period, the bank said in a press release issued here.

The other subsidiary, ICICI Lombard General Insurance Company (ICICI General) has clocked a loss of Rs 80 crore in 2010-11.

"The company has provided Rs 272 crore during Q4 2011 towards additional motor pool losses pursuant to the order of March 12, 2011. After taking the same into account, ICICI General reported a loss of Rs 80 crore," it said.

Its gross premium income in FY11 increased 28% to Rs 4,408 crore from Rs 3,431 crore in the year-ago period.

A majority of other subsidiaries, including ICICI Securities, the asset management company and international subsidiaries in Canada and the UK had a flat year in FY11, the bank said.

Profit from the AMC was at Rs 72 crore, while ICICI Securities' profit was at Rs 110 crore, it said. Its Canadian subsidiary's profit was at Canadian dollar 33 million, while the profit from the UK subsidiary stood at $37 million, it said.

The bank's Chief Executive and Managing Director, Chanda Kochhar, said international subsidiaries accounted for around 25% of the bank's overall business in FY11 and it will keep it in the 22-25% range for the ongoing FY12.

image
Business Standard
177 22
Widgets Magazine

More News

Widgets Magazine
Widgets Magazine

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard