ICICI Prudential Life Insurance Company has reported significant growth in its business metrics for December 2024, reflecting a robust performance across various parameters.
Key Highlights:
- APE Growth: Annualized Premium Equivalent (APE) increased by 15.6% year-on-year (YoY) to ₹8.66 billion for December 2024.
- New Business Premium: The new business premium stood at ₹15.55 billion, marking a 3.9% YoY growth. For Q3 FY25, the cumulative premium reached ₹64.42 billion, showcasing a 56.5% YoY increase.
- New Business Sum Assured: ICICI Prudential reported a sum assured of ₹1,068.26 billion for December, reflecting a 42.9% YoY growth.
- Persistency Ratio: The company maintained high persistency ratios across various intervals, demonstrating strong customer retention.
Nine-Month Performance Highlights: For the nine months ended December 31, 2024:
- APE grew by 27.2% YoY to ₹69.05 billion.
- New business premium totaled ₹151.39 billion, up 31.3% YoY.
- The new business sum assured reached ₹8,606.40 billion, a 19.1% increase YoY.
