ICICI Prudential Life Insurance Company is on course to meet the target of doubling the value of new business this fiscal from the FY19 levels, as the largest private-sector life insurer expects to continue the good run it had in FY22 and expand the margin by 22 per cent. It had nearly trebled the net income in the March quarter on the back of robust margin growth from new sales.
The ICICI Group firm had in FY19 set a target of doubling the value of its new business (VNB) by FY23 -- from Rs 1,328 crore in FY19 to Rs 2,650 crore by FY23.
ICICI Prudential Life Insurance Company offers a range of products to cater to the specific needs of customers in different life stages, enabling them to meet their long-term savings and protection needs.
