ICICI Prudential Life Q3 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.