 "cash, currency, notes, funds, investment, shares, growth, profit, loss, tax, money, income, earnings")
ICICI Prudential Life Insurance has posted a 0.9% jump in profit after tax to Rs 288 crore in Q1FY21 from Rs 285 crore in Q1FY20.
It reported 13.1% growth in annuity new business premium and a 14.2% growth in traditional long-term savings business during Q1FY21, over Q1FY20 despite the challenges arising due to Covid-19.
The company’s solvency ratio for the quarter stood at 205%, well above the regulatory requirement of 150%.
The Value of New Business (VNB) for Q1FY21 stood at Rs 201 crores with an expansion in VNB margin from 21.0% in Q1FY20 to 24.4% in Q1FY21.
The challenges brought about by the
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