ICICI Pru Life posts 47% rise in Q2 net profit

ICICI Prudential Life Insurance reported a 46.6 per cent jump in its net profit for the second quarter of the fiscal, aided by robust growth in premium income.

For the quarter-ended September 30, 2021, the private sector life insurer posted a net profit of Rs. 444.57 crore as against a net profit of Rs. 303.22 crore in the same period last fiscal.

Net premium income increased by 8.33 per cent to Rs. 9,286.53 crore in the second quarter of the fiscal from Rs. 8,572.19 crore a year ago.

Net income from investments surged by 70.4 per cent on a year-on-year basis to Rs. 13,545.83 crore in the July-September 2021 quarter.