 "ICICI Prudential")
The third quarter results of life insurance company ICICI Prudential reported a 34.29 per cent decline in its net profit in the third quarter results. The second-largest life insurer said the decline is because, for the nine months of FY19, its annual premium equivalent or APE declined by about 4 per cent, year-on-year. People pay premiums mostly annually, so the APE is defined as the first-year premium on such policies plus a 10 per cent of money paid for single- premium policies.
Why has this happened? ICICI Pru has cited two reasons. First, the big-ticket insurance policies it sells to
