ICICI Prudential Life Insurance’s profit more than doubled in the March quarter, the company’s business grew well
ICICI Prudential Life Insurance’s net profit has more than doubled to Rs 185 crore in the January-March quarter.
ICICI Prudential Life Insurance’s net profit has more than doubled to Rs 185 crore in the January-March quarter. The reason for this growth is the good growth in his new business.
private sector insurance (Insurance) Net profit of the company ICICI Prudential Life Insurance in the January-March quarter ,Net Profit, Has more than doubled to Rs 185 crore. The reason for this growth is his new business (Business) There has to be good growth. ICICI Prudential Life Insurance announced its fourth quarter financial year 2021-22 results in a regulatory notice on Saturday. (Result) have been issued. He said that his profit after tax in January-March 2021 was Rs 64 crore. However, the company’s net profit during the entire financial year 2021-22 has come down to Rs 754 crore from Rs 960 crore in March a year ago.
The Value of New Business (VNB) for the financial year 2021-22 stood at Rs 2,163 crore, which is 33.4 per cent higher than the financial year 2020-21. The company said that this increase has been due to increase in new business.
The insurance company said that the board of directors has approved a final dividend of 55 paise per equity share for the financial year 2021-22.
new product of the company
Let us inform you that ICICI Prudential Life Insurance launched a new term insurance product ICICI Pru iProtex Return of Premium in December. ICICI Pru iProtex Return of Premium is a customer centric proposition, which provides life-stage based cover. The risk cover in this is adjusted based on the life of the customer.
ICICI Pru iProtect Return of Premium offers a return of 105 per cent of all premiums paid on survival, apart from providing cover against 64 critical illnesses, which is the highest in the industry. It has two variants – Life Stage Cover and Level Cover.
Life-Stage Cover provides a facility that auto-adjusts the Sum Assured or Life Cover based on the life stage of the customers. Increases the life cover as the responsibilities on the customers increase. Also, it automatically reduces the life cover when the responsibilities are reduced. The important thing is that the premium remains constant throughout the term of the policy. At the same time, the level cover variant is ideal for individuals who are looking for a term insurance plan that offers a survival benefit along with a fixed death benefit.