Page 4 - Icici Prudential Life Insurance

ICICI Prudential Life pays Rs 1,867 crore towards death claims in FY24

ICICI Prudential Life Insurance on Tuesday said it has settled 99.17 per cent of death claims in just 1.27 days, with the total such payout at Rs 1,867 crore in 2023-24. In a statement, ICICI Prudential Life said the company's claim settlement ratio for the June quarter of FY24 was 97.94 per cent, for the September quarter at 98.14 per cent and for the December quarter at 98.52 per cent. "The claim settlement ratio of ICICI Prudential Life stood at 99.17% in FY2024, one of the best in the industry. Significantly, the average turnaround time taken to settle a genuine death claim was just 1.27 days," it said. For the fiscal year ended in March 2024, the company paid a total of Rs 1,867 crore in death claims, it added. The company said it has enabled its digital touchpoints such as WhatsApp and the mobile app providing convenience to claimants to lodge and track claims. Also, the company provides home pick-up of claim documents. ICICI Prudential Life Insurance Senior Executive Vice .

ICICI Pru Life launches ULIP having fund value-based distributor payouts

Customers can choose from an array of 21 funds under this product, which includes 13 equity funds, four debt funds, and four balanced funds. Additionally, they can choose from 4 portfolio strategies

ICICI Prudential Life Insurance slips 7% on disappointing Q4 results

At 09:29 am, the stock was trading 4 per cent lower at Rs 569.15, as compared to 0.24 per cent rise in the S&P BSE Sensex

Stocks to Watch, April 24: Axis Bk, HUL, Tata Consumer, MCX, IIFL Finance

Stocks to Watch on Wednesday, April 24, 2024: Axis Bank, Hindustan Unilever, LTIMindtree, The Indian Hotels Co., and AU Small Finance Bank are among the companies which will report Q4FY24 result today

ICICI Pru Life Q4 results: Net profit drops 26% to Rs 173.76 crore

The management said that the change in commission structure led to the increase in expenses

ICICI Prudential Life Insurance Q4 results: PAT declines 26% to Rs 174 cr

The decline in VNB margin is primarily on account of the shift in the underlying product mix towards unit-linked business, the company said in an exchange filing

Tata Consumer, ICICI Prudential Life among major Q4 results today

Mahindra & Mahindra Financial Services has deferred its Q4 earnings meeting and subsequent announcement due to fraud detected by the company

Stocks to Watch today: Paytm, Maruti, ICICI Lombard, Lupin, PolicyBazaar

Stocks to watch on Wednesday, April 10, 2024: Seven stocks including Bandhan Bank, Exide Industries, Hindustan Copper, Vodafone Idea, India Cement, SAIL and Zee Entertainment are in F&O ban today.

Life insurance shares in focus; Max Financial, HDFC Life rally up to 6%

In a relief for life insurance company investors, regulator Irdai has retained most existing surrender charges in the revised product regulations

Multiple headwinds ahead for ICICI Prudential Life Insurance Company

Commission expenses and expenses of management (EOM) dragged down the profitability. The net profit grew just 2.4 per cent Y-o-Y to Rs 227 crore

ICICI Prudential Life Q3 results: Net profit flat at Rs 227 crore

ICICI Prudential Life Insurance on Wednesday reported a flat net profit of Rs 227 crore for the third quarter ended December 2023. The company had posted a profit of Rs 221 crore in the same quarter a year ago. During the third quarter of this fiscal the net premium income increased to Rs 9,929 crore, as against Rs 9,465 crore in the same period a year ago, ICICI Prudential Life said in a regulatory filing. The assets under management of the company increased to Rs 2,86,676 crore as against Rs 2,51,884 crore at the end of third quarter of previous fiscal, it said. The company's net worth was Rs 11,075 crore on December 31, 2023 while the solvency ratio was 196.5 per cent against the regulatory requirement of 150 per cent.

ICICI Prudential Life gets GST demand notice of Rs 270 crore for 2017-18

ICICI Prudential Life Insurance on Wednesday said tax authorities have slapped a demand notice of Rs 270 crore on it for alleged short payment of GST for 2017-18. The Maharashtra Goods and Service Tax (GST) authority has demanded GST along with applicable interest and penalty for 2017-18 fiscal for reversal of input tax credit; difference in GST liability filed in GSTR-1 and GSTR-9; mismatch in ITC claimed in GSTR-3B and GSTR-2A; and interest on GST payment on proposal deposit. The total demand of Rs 269.86 crore includes GST of Rs 119.56 crore, interest of Rs 138.34 crore, and penalty of Rs 11.95 crore. "The company shall file an appeal against the said order before the Commissioner (Appeals) within the prescribed timelines," ICICI Prudential Life Insurance Company said in a BSE filing. Shares of ICICI Prudential settled at Rs 526.55 apiece, up 0.56 per cent over previous close on the BSE. In a separate filing, ICICI Lombard General Insurance said it has received a demand notice

We do not expect DIIs to cash out, says Jitendra Arora of ICICI Pru Life

Jitendra Arora, senior executive vice-president and fund manager for equity at ICICI Prudential Life Insurance expects earnings growth for FY24 & FY25 to be around 24% and 14%, respectively.

ICICI Prudential Life Insurance set to incorporate Bima Sugam entity

The Bima Trinity comprises Bima Vistaar, Bima Vahak, and Bima Sugam

Attractive valuations make ICICI Prudential Life Insurance a long term buy

However, after a sell-off from disappointed investors, valuations have corrected and the stock may be worth a long-term buy

ICICI Prudential Life Insurance Q2 net profit up 22.4% to Rs 244 crore

The net premium income of the company rose to Rs 10,022 crore, nearly 5 per cent higher from Rs 9,582 crore in the year-ago period

ICICI Prudential Life Q2 results: Net profit rises 23% despite lower income

ICICI Prudential Life Insurance Company on Tuesday reported a 23 per cent increase in its net profit at Rs 244 crore in the quarter ended in September 2023 despite lower income. The company's net profit in the same quarter a year ago stood at Rs 199 crore. However, total income decreased by 2.4 per cent to Rs 174.36 crore from Rs 226.42 crore in the year-ago period, mainly because of fall in investment income. The net premium earned by the private sector insurer during July-September was up at Rs 100.22 crore as against Rs 95.82 crore in the same period a year ago, ICICI Pru Life said in a regulatory filing. The assets under management of the company grew by 11.3 per cent from Rs 2,44,279 crore as on September 30 last year to Rs 2,71,903 crore as on September 30, 2023. The company had a debt-equity mix of 54:46 as on September 30, 2023 and 96.4 per cent of the fixed income investments were in sovereign or AAA-rated instruments. The solvency ratio was 199.4 per cent as on Septembe

Reappointment of ICICI Bank CEO Sandeep Bakhshi gets RBI approval

Bakhshi took charge of the second largest lender on October 15, 2018. Prior to his appointment as MD & CEO, he was a Wholetime Director and the Chief Operating Officer (COO) of ICICI Bank

Two entities buy footwear co Campus Activewear shares worth Rs 124 crore

Societe Generale and ICICI Prudential Life Insurance Company on Wednesday bought shares of athleisure footwear company Campus Activewear for Rs 124 crore through open market transactions. According to the bulk deal data available with the NSE and BSE, ICICI Prudential Life Insurance acquired 25 lakh shares and Societe Generale bought more than 17.14 lakh shares, amounting to 0.82 per cent and 0.56 per cent stake, respectively, in the company. The shares were acquired at an average price of Rs 295 apiece on both BSE and NSE, taking the combined transaction value to Rs 124.33 crore. Details of the sellers could not be ascertained. Shares of Campus Activewear plunged 4.29 per cent to close at Rs 290 apiece on the NSE and tumbled 4.23 per cent to settle at Rs 290.05 on the BSE.

The focus is certainly on VNB growth: ICICI Pru Life Insurance MD & CEO

No partner has more than 2-3 per cent concentration with us