ICICI Prudential Life Q1 loss at Rs 186 crore

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In a regulatory filing, ICICI Prudential said total income was down at Rs 16,724.05 crore in the quarter under review as against Rs 19,057.42 crore in the year-ago period.

ICICI Prudential Life Q1 loss at Rs 186 crore
ICICI Prudential Life Insurance Company on Tuesday reported a net loss of Rs 185.73 crore for June quarter 2021-22. The company had posted a net profit of Rs 287.59 crore in the year-ago period. In the previous quarter (January-March 2021), the insurer reported a profit of Rs 63.78 crore.
Total income was down at Rs 16,724.05 crore in the quarter under review as against Rs 19,057.42 crore in the year-ago period, ICICI Prudential said in a regulatory filing. Of this, the net premium income was Rs 6,601.85 crore as against Rs 5,551.07 crore.
The company said it had COVID-19 claims of Rs 500 crore (net of reinsurance) for June quarter 2021-22. Provisions of Rs 498 crore have been held for future COVID-19 claims including IBNR (incurred but not reported) provisions, it added. ICICI Prudential stock settled at Rs 604.85 on BSE, down 3.39 percent from the previous close.

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CompanyPriceChng%Chng
ICICI Bank676.65 20.70 3.16
ITC212.40 5.40 2.61
Wipro599.15 14.95 2.56
SBI Life Insura1,050.45 24.45 2.38
SBI428.90 6.85 1.62
CompanyPriceChng%Chng
ICICI Bank676.65 20.85 3.18
ITC212.35 5.30 2.56
SBI429.15 7.15 1.69
HCL Tech994.25 15.65 1.60
Axis Bank755.25 8.75 1.17

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