ICICI Prudential Life Insurance Company announces its half yearly results

ICICI Prudential Life Insurance Company announced its half yearly results for the first half of the current financial year 2010-2011. Overall the life insurance company has seen a decline in its losses from 105.1 crores in H1 2009-2010 to 101.1 crores in the first half of the current year.

ICICI Prudential Life Insurance Company saw an increase in the premium collected in the first half of the year from 6477.2 crores to 7267.2 crores as compared to the same period last year. The maximum increase was observed in the non-linked group insurance segment. The non-linked regular plans also saw an increase while linked life insurance premium collection has seen a dip.

A summary of the life insurance premium collected by ICICI Prudential Life Insurance Company is as follows:

As on 30th Sep 2010

Non Linked

Individual

Life

29,487

Pension

4,963

 

Group

5,481

Linked

Individual

Life

281,416

Pension

365,844

 

Group

39,531

Total

726,722

As on 30th Sep 2009

Non Linked

Individual

Life

25,573

Pension

6,637

 

Group

711

Linked

Individual

Life

318,922

Pension

266,981

 

Group

28,899

Total

647,723

All figures are in Rs. Lakhs

Overall the earnings per equity shares stood at -0.71 compares to -0.74 in the same period last year.

ICICI Life Insurance Company has launched some attractive plans in the last couple of months which include a pure online term insurance plan called iProtect which has very low premiums and could be a potential winner in the market. In addition to that the company has launched ICICI Pru Life Link which is a single premium ULIP plan.