BENGALURU (Reuters) – India’s ICICI Prudential Life Insurance Company reported a lower new business margin on Tuesday, hurt by persistent decline in demand for high-value policies and as customer preference shifted towards low-margin products.
Value for new business (VNB), the expected profit from new policies, fell 19.5% to 22.27 billion rupees ($267 million) for the year ended March 31, dragging the VNB margin to 24.6% from 32% a year earlier.
Life insurers…
Read More…
India’s ICICI Prudential reports narrower new business margin for FY 2024
