Date:16/11/2005 URL: http://www.thehindubusinessline.com/2005/11/16/stories/2005111602270600.htm

Back ICICI Prudential premium income up 66 pc in H1

Our Bureau

Mumbai , Nov 15

ICICI Prudential Life Insurance Company has registered a 66-per cent growth in annualised premium during the half-year period ended September 2005, taking its premium up to Rs 668 crore.

The insurer earned Rs 403 crore in the second quarter (July-September), a growth of 73 per cent over the same quarter in the previous year.

The company wrote 2,83,818 policies in this period for a total sum assured of Rs 7,131 crore. Renewal premiums during the same period amounted to Rs 493 crore.

According to a press release, Ms Shikha Sharma, CEO & MD, ICICI Prudential Life Insurance, said, "As life insurance business grows, renewal premium becomes a very important indicator of a company's sustainability and potential for profits. Being in our fifth year, this is as an important parameter to track and we are so far very satisfied with the progress we have made on this front.''

ICICI Prudential has also increased its capital base by Rs 160 crore, taking the total paid-up capital base to Rs 1,085 crore.