The Hindu Business Line : ICICI Pru Life new biz premium zooms in Q1

Of this, Rs 690 crore came from retail business premium, a growth of 155 per cent over the same quarter last year. Group business, which grew by 133 per cent, contributed Rs 122 crore in premium.

According to a press release, the company has underwritten 302,482 policies over the periodand total sum assured in force stands at over Rs 56,000 crore. Funds under management increased to over Rs 9,300 crore.

Weighted received premium accounts for 100 per cent of regular premium and 10 per cent of the single premium.

The quarter also saw the company's promoters, ICICI Bank and Prudential plc, infusing an additional Rs 150 crore of incremental capital, taking the total infusion to Rs 1335 crore.

ICICI Prudential has opened offices in 75 new locations over the past quarter and has over 83,000 advisors across the country.

The company also launched a range of 10 revamped unit-linked policies to meet the requirements of the new IRDA guidelines.

The policies have been launched in the segments of retirement, wealth-creation and education insurance and are available in both regular and single premium payment options.

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