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The insurer said its losses from market investments stood at ₹18,898 crore as against a profit of ₹5,839 crore a year ago Mumbai: Private sector ICICI Prudential Life on Saturday said a staggering ₹18,898 crore loss on its investments and a robust growth in the cash-burning protection policy sales have led to an over 31 per cent dip in net income for the March quarter at ₹179.5 crore.

The city-based insurer, which recorded an over 12.5 per cent growth in the high margin new businesses (VNB) at ₹470 crore, said its losses from market investments stood at ₹18,898 crore against a profit of ₹5,839 crore a year ago as the key market indices plunged more than 35 per cent in March alone.

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death Government Coronavirus
COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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