 "insurance")
Private sector life insurer ICICI Prudential Insurance reported a net loss of Rs 186 crore in the April-June quarter of FY22 against a net profit of Rs 288 crore in the year-ago period.
This was due to higher claims and benefits outgo and provisions set aside for Covid-related claims. The insurer is carrying a provision of Rs 488.29 crore on its books for Covid-related claims.
It reported a 19 per cent growth in net premiums earned at Rs 6,602 crore in Q1 of FY22. However, its investment income was down 27 per cent to Rs 9,609 crore in
This was due to higher claims and benefits outgo and provisions set aside for Covid-related claims. The insurer is carrying a provision of Rs 488.29 crore on its books for Covid-related claims.
It reported a 19 per cent growth in net premiums earned at Rs 6,602 crore in Q1 of FY22. However, its investment income was down 27 per cent to Rs 9,609 crore in
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