ICICI Prudential Q4 Results.ICICI Prudential’s net premium income rose 17 per cent to Rs 14,788 crore in the March quarter, compared to Rs 12,629 crore in the year-ago periodICICI Prudential has reported a 26 per cent drop in net profit to Rs 174 crore for the quarter ended March 31 on higher expenses. The private sector insurer had a profit of Rs 235 crore in the fourth quarter of 2022-23.The insurer’s net premium income rose 17 per cent to Rs 14,788 crore in the March quarter, compared to Rs 12,629 crore in the year-ago period.The company’s expenses of management rose 10 per cent to Rs 2,550 crore in the fourth quarter of FY’24, from Rs 2,320 crore at the end of the March quarter of 2022-23.For the full 2023-24 fiscal, ICICI Pru’s net profit rose 5 per cent to Rs 852 crore. In 2022-23 fiscal, the net profit was Rs 811 crore.The company announced a dividend of Rs 0.60 per equity share.ICICI Prudential in a regulatory filing said that Ganessan Soundiram, Chief Technology Officer, and Rajiv Adhikari, Head of Corporate Communications, have been designated as senior management personnel of the company with effect from May 1.ICICI Prudential Life, MD & CEO, Anup Bagchi said that “going forward we will continue to leverage technology to simplify products and processes and augment customer experience. This is aligned with our objective of balancing growth, risk & prudence and profitability.“Our industry-leading claim settlement ratio of 99.2 per cent in FY2024, with an average turnaround time of 1.3 days for non-investigated claims reflects our commitment to fulfilling the promise made to our customers and their families.”(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)Mohammad HarisHaris is Deputy News Editor (Business) at news18.com. He writes on various issues related to markets, economy and companies. Having a decade of experi…Read More
Source link
ICICI Prudential Life Q4 Net Dips 26% to Rs 174 Crore – News18
Related Posts
Nike CEO John Donahoe is out, replaced by company veteran Elliott Hill
John Donahoe, CEO of Nike, attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, U.S., July 10, 2024.Brendan…
Brazil X: Court fines Musk website for site’s brief return
Brazil has fined Elon Musk’s companies after some users in the country were able to briefly access the social media platform X, despite a ban imposed last month.Brazilian users swarmed…