With reference to the various queries received by the Company on taxation of income from non-linked life insurance policies issued on or after April 1, 2023 and having premium of above ? 500,000 per annum, as announced in the Finance Bill - 2023. As disclosed in its financial results for 9M-FY2023, the Annualised Premium Equivalent (APE) product mix was well diversified at 41.4% unit linked, 19.7% protection, 6.3% annuity, 4.0% group funds and 28.6% non-unit linked. ICICI Prudential Life Insurance Company has clarified that the share of business of non-unit linked policies with annual premium of above ? 500,000 is approximately 6% of the total APE for 9M-FY2023. This disclosure is meant to facilitate information symmetry for all of its stakeholders until further clarifications are received on Finance Bill -2023.
The above information is a part of company’s filings submitted to BSE.
| Company Name | CMP |
|---|---|
| ICICI PrudentialLife | 495.30 |
| General Ins. Corpn. | 354.85 |
| Star Health & Allied | 560.00 |
| Niva Bupa Health Ins | 82.42 |
| ICICI Lombard Gen. | 1567.00 |
| View more.. | |
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Name of the IA registered
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The Alchemists Ark Pvt. Ltd. |
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Trade/Brand
Name of IA: |
MoneyWorks4Me Investment Advisers |
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Brand Logo:
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SEBI Registration Number:
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INA000013323 Validity – May 16, 2019 – Perpetual |
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Registration:
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Non-Individual |
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BSE Enlistment No:
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1187 |
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