Private sector life insurer ICICI Prudential Life Insurance reported a consolidated net profit of Rs 306 crore for the quarter ending December 2020 (Q3FY21).
The insurer had posted a profit of Rs 302 crore during the same period a year ago.
New business sum assured grew by 22.2 per cent year-on-year during the December quarter. The new business premium rose by 14 per cent year-on-year for the period under review.
The value of new business (VNB) stood at Rs 428 crore for the quarter under review compared to Rs 426 crore during the same period a year ago.
“The company was further able to strengthen its position as the private market leader on new business sum assured, with a market share of 13.0 per cent during the first nine months of the financial year,” the insurer said.
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