Home / Companies / News / ICICI Prudential Life's pre-tax profit rises 8.36% to Rs 311 cr in Q1

ICICI Prudential Life's pre-tax profit rises 8.36% to Rs 311 cr in Q1

The company reported a year on year decline of 32.6 per cent in new business premium to Rs 1,499 crore in Q1FY21 compared to Rs 2,226 crore in the year ago period

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The thirteenth month and 49th month persistency of the insurer stood at 84.1 per cent and 66.2 per cent, respectively at the end of June quarter.

Subrata Panda Mumbai

2 min read Last Updated : Jul 22 2020 | 1:28 AM IST

Private sector insurer ICICI Prudential Life Insurance reported a 8.36 per cent growth in its pre-tax profit at Rs 311 crore in Q1FY21 compared to Rs 287 crore in Q1FY20 due to growth in renewal premiums and de-growth in expenses on account of the cost cutting measures undertaken by the company. The net profit of the private insurer grew 1 per cent to Rs 288 crore versus Rs 285 crore on account of higher effective tax.

The company reported a year on year decline of 32.6 per cent in new business premium to Rs 1,499 crore in Q1FY21 compared to

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