INSUBCONTINENT EXCLUSIVE:
MUMBAI: ICICI Prudential Life Insurance reported that its June quarter net profit plunged 30% due to expenses incurred on selling policies,
but key metrics that determine future prospects improved.
The first private sector life insurer to turn public said its net profit for the
crore, from ?182 crore a year ago, it said
VNB is the present value of all future profits which long-term shareholders can reap benefit of
But its cost ratio increased to 17.5%, from 14.2%, which was key to the fall in its profit
It is a ratio of all expenses to total weighted received premium.
Persistency, the proportion of policy holders who continue to pay
premiums, also was strong with 13th month persistency at 85.8% and the 49th month persistency improving to 63.7% from 59.2% a year
RWRP is a new business measure very similar to Annual Premium Equivalent for the retail, also referred to as individual business.
Total
premium collected climbed 13% to ?5,518 crore.
