ICICI Prudential Life Insurance has reported strong third quarter results, with its Value of New Business (VNB) showing impressive growth momentum. The life insurance company's performance reflects positive trends in the insurance sector and demonstrates effective business strategy execution.

Strong VNB Performance in Q3

The company's Value of New Business reached ₹6.15 billion in the third quarter, marking a substantial improvement from the previous year's corresponding period. This growth trajectory indicates robust demand for the company's insurance products and successful market penetration strategies.

Year-on-Year Growth Analysis

The year-on-year comparison reveals a growth rate of 18.95%, demonstrating the company's ability to expand its new business value significantly. This performance metric is particularly important in the life insurance industry as it reflects the profitability and long-term value creation potential of new policies written during the quarter.

Market Position and Performance

The VNB growth of nearly 19% positions the company favorably within the competitive life insurance landscape. This metric serves as a key indicator of business quality and future earnings potential, as it measures the present value of projected after-tax statutory profits from new business written during the period.

The strong third quarter performance underscores the company's operational efficiency and market competitiveness in attracting new customers while maintaining profitable growth standards.

ICICI Prudential Life Insurance has reported its third quarter Annualised Premium Equivalent (APE) figures, demonstrating continued growth in its premium collection performance. The life insurance company achieved an APE of ₹25.25 billion for the quarter, marking a positive trajectory in its business operations.

Q3 Performance Overview

The company's Q3 APE performance shows a year-on-year growth of 3.6%, with current quarter figures reaching ₹25.25 billion compared to ₹24.38 billion in the same quarter of the previous year. This represents an absolute increase of ₹0.87 billion in premium equivalent terms.

Business Performance Analysis

The 3.6% year-on-year growth in APE reflects the company's steady performance in the life insurance segment. Annualised Premium Equivalent is a key metric used by insurance companies to measure new business performance, representing the sum of regular premiums plus 10% of single premiums for new policies written during the period.

The growth trajectory indicates the insurer's ability to maintain momentum in premium collection, which is crucial for long-term business sustainability and profitability in the competitive life insurance market.