ICICI Prudential surges 10% on strong performance in March quarter

The company posted a 23 per cent year-on-year growth in new business premium during the January-March quarter (Q4FY21), led by steady traction in both regular and single premium business

Shares of ICICI Prudential Life Insurance Company (ICICI Pru) surged 10 per cent to Rs 495 on the BSE in intra-day trade on Tuesday after the company posted a 23 per cent year-on-year (YoY) growth in new business premium during the January-March quarter (Q4FY21), led by steady traction in both regular and single premium business.

New business annualised premium equivalent (APE) grew 27 per cent YoY in Q4FY21 to Rs 2,509 crore on the back of 108 per cent YoY growth in March 2021 to Rs 1,101 crore. Assets under Management (AUM) stood at Rs 2.14 trillion as of March 31,