ICICI Prudential Life Insurance Company Ltd - 540133 - Submission Of Certificate Under Regulation 40(10) Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015
Pursuant to Regulation 40 (10) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the certificate issued by Mr. Tushar Shridharani, Practicing Company Secretary, for the year ended March 31, 2023, certifying the compliance thereof.
Buy ICICI Pru Life; target of Rs 550: Emkay Global Financial
Emkay Global Financial is bullish on ICICI Pru Life has recommended buy rating on the stock with a target price of Rs 550 in its research report dated April 21, 2023. ICICI Prudential Life Insurance Company Results Earnings Call for Q4FY23
Conference Call with ICICI Prudential Life Insurance Company Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript. Q4FY23 Quarterly Result Announced for ICICI Prudential Life Insurance Company Ltd.
ICICI Prudential Life Insurance company announced Q4FY23 results: The Value of New Business (VNB), representing profitability, grew to Rs 27.65 billion in FY23, a YoY growth of 27.8% The VNB margin also expanded from 28.0% in FY22 to 32.0% in FY23. The company has thus achieved its stated objective of doubling the FY19 VNB by FY23 During FY23, Annualised Premium Equivalent (APE), a measure of new business, grew YoY by 11.7% to Rs 86.40 billion For FY23, protection APE grew by 14.5% YoY to Rs 15.04 billion. The new business sum assured grew by 34.7% YoY to Rs 10.4 trillion The company has reported significant improvement in persistency across all cohorts compared to FY22. The 13th-month persistency ratio improved by 90 basis points to 86.6% in 11MFY23 and the 61st-month persistency improved by 1130 basis points to 65.7% in 11MFY23 The continuous investments in digital technologies have enabled the company to be future-ready, achieve higher productivity, usher in cost efficiencies, and deliver superior customer service Asset under Management grew to Rs 2,511.91 billion on March 31, 2023, which signifies customer trust in the Company The solvency ratio for FY23 stood at 208.9%, well above the minimum regulatory requirement of 150% N S Kannan, MD & CEO, ICICI Prudential Life Insurance said, “In April 2019 we had articulated our aspiration to double the FY19 VNB in four years. It gives me immense pleasure to state that we have successfully delivered this with a VNB of Rs 27.65 billion and industry leading margin of 32.0%. This VNB was delivered along with strong quality of business as can be seen from the sharp improvements in our persistency ratios across all cohorts. Our strategy of pursuing a diversified distribution and a well diversified product mix has enabled us to deliver 26.5% YoY growth in APE (APE) in Q4-FY23. Our focus on protection and annuity products is reflected in the growth in these segments. These products together now contribute nearly half of the new business received premium for FY23. We believe that we have built a resilient business with well-diversified product & channel mix, industry leading quality parameters, and strong risk & capital metrics. With this, we are well poised to take advantage of the insurance opportunity in the coming years.” Result PDF ICICI Prudential Life Insurance Company Ltd - 540133 - Re-Appointment Of Director Of ICICI Prudential Life Insurance Company Limited ('The Company') Subject To The Approval Of Shareholders
The Board of Directors of the Company at their meeting held today, inter alia approved the re-appointment of Ms. Vibha Paul Rishi (DIN: 05180796) as an Independent Director of the Company, not liable to retire by rotation, for a second term of five consecutive years, with effect from January 1, 2024 till December 31, 2028, subject to the approval of shareholders of the Company. The current term of appointment of Ms. Vibha Paul Rishi as an Independent Director of the Company, will expire on December 31, 2023. ICICI Prudential Life Insurance Company Ltd - 540133 - Announcement under Regulation 30 (LODR)-Change in Directorate
In terms of Regulation 30 of Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosures Requirements) Regulation, 2015 read with Schedule lll, please be informed that the Board of Directors of the Company at their meeting held today, inter alia approved the appointment of Mr. Anuj Bhargava (DIN: 02647635) as a Non-executive (Additional) Director of the Company, with effect from May 1, 2023, subject to the approval of shareholders of the Company. ICICI Prudential Life Insurance Company Ltd - 540133 - Announcement under Regulation 30 (LODR)-Investor Presentation
This is further to our letter dated April 10, 2023 with reference to the earnings call to be hosted by the Company on April 20, 2023 with investors and analysts at 7.30 p.m. IST. Please find enclosed the business presentation for 'earnings conference call' to discuss the performance of the Company for FY2023. The audio recording and transcript of the conference call will be posted on the Company''s website within the prescribed regulatory timelines. Please take the same on your record. ICICI Prudential Life Insurance Company Ltd - 540133 - Corporate Action-Board approves Dividend
The Board of Directors has at its meeting held today, inter alia, approved the following business: Recommendation of final dividend of ? 0.60 per equity share of face value of ? 10 each, to the members of the Company which shall be subject to their approval at the ensuing Annual General Meeting. Please note that the final dividend shall be paid to the eligible members within 30 days from the declaration at the ensuing Annual General Meeting of the Company. ICICI Prudential Life Insurance Company Ltd - 540133 - Audited Financial Statements And Financial Results (Standalone And Consolidated) For The Quarter And Year Ended March 31, 2023.
Pursuant to the provisions of regulation 33 and regulation 52 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) and other applicable requirements, a copy of the audited financial results for the quarter and year ended March 31, 2023, together with the Auditors' Report in the prescribed format is enclosed. A copy of the press release being issued in this connection is also enclosed. Please note that B S R & Co. LLP and Walker Chandiok & Co LLP, the joint statutory auditors of the Company have issued audit reports with unmodified opinion. ICICI Prudential Life Insurance Company Ltd - 540133 - Board Meeting Outcome for Outcome Of The Board Meeting Held On April 20, 2023
The Board of Directors has at its meeting held today, inter alia, approved the following business: 1. Audited financial statements and financial results (standalone and consolidated) for the quarter and year ended March 31, 2023. 2. Recommendation of final dividend of ? 0.60 per equity share of face value of ? 10 each, to the members of the Company which shall be subject to their approval at the ensuing Annual General Meeting. 3. The re-appointment of Ms. Vibha Paul Rishi as an Independent Director of the Company, for a second term of five consecutive years, with effect from January 1, 2024, till December 31, 2028, subject to approval of the members of the Company. 4. The appointment of Mr. Anuj Bhargava as a Non-executive (Additional) Director of the Company with effect from May 1, 2023, subject to the approval of members of the Company.