Solvency ratio improved to 212.2 per cent in comparison with 191.8 per cent within the year-ago interval.
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REUTERS
Personal sector insurer ICICI Prudential Life Insurance coverage on Tuesday reported a two-fold year-on-year (y-o-y) bounce in its standalone web revenue to ₹386.29 crore in This autumn of FY25, backed by a powerful development in its web premium revenue through the interval.
The corporate had registered a web revenue of ₹173.76 crore within the year-ago interval.
The corporate’s web premium revenue grew 10.69 per cent y-o-y to ₹16,369.17 crore in Q4FY25 in comparison with ₹14,788.46 crore in Q4FY24, based on a inventory alternate submitting. Though the first-year premium fell 8.05 per cent y-o-y at ₹2,709.15 crore, renewal premium rose 9.27 per cent y-o-y to ₹9,209.44 crore for the interval underneath assessment. Single premium grew 30.13 per cent on 12 months, to ₹4,913.04 crore.
Administration price dips
Throughout Q4FY25, the insurer’s bills of administration (EoM) stood at 14.7 per cent as in opposition to 16.9 per cent in Q4FY24. Solvency ratio improved to 212.2 per cent in comparison with 191.8 per cent within the year-ago interval.
The thirteenth month persistency ratio fell to 84.3 per cent within the fourth quarter final fiscal from 87.4 per cent in the identical interval within the earlier fiscal. The forty ninth month persistency ratio rose to 69.1 per cent from 67.5 per cent within the year-ago interval, based on the inventory alternate submitting. The corporate’s annualised premium equal (APE) for the quarter underneath assessment fell 3.1 per cent y-o-y to round ₹3,502 crore.
Web revenue for FY25 grew 39.6 per cent year-on-year to ₹1,189 crore from ₹852 crore in FY24. Worth of New Enterprise (VNB) for the final fiscal stood at ₹2,370 crore, up by 6.4 per cent on-year.
With a 15 per cent development in APE at ₹10,407 crore in FY25, VNB margin stood at 22.8 per cent in opposition to 24.6 per cent in FY24. The corporate attributed the autumn in VNB margin primarily to a shift in new enterprise profile and assumption modifications.
Commenting on the outcomes, Anup Bagchi, MD & CEO, ICICI Prudential Life Insurance coverage, stated, “We’re happy to announce that we have now crossed 10,000 crore APE for the primary time, marking a big milestone in our development journey. Notably, we have now additionally offered insurance coverage protection to over 9 crore lives as on March 31, 2025. Our Retail Weighted Acquired Premium (RWRP) development of 15.2 per cent in FY25, demonstrates our capability to ship superior efficiency in a aggressive panorama.”
Printed on April 15, 2025
