Govt notifies 12% wage hike for workers of PSU normal insurers; hyperlinks subsequent with efficiency<\/a><\/strong><\/p>\nThe worth of latest enterprise (VNB), a key measure of profitability, posted robust development of 25.1% at Rs 1,092 crore within the first half of FY2023, the insurer mentioned.<\/p>\n
The corporate mentioned its persistency ratios improved throughout all cohorts with the thirteenth month ratio, which is consultant of the standard of enterprise, standing at 85.9% for H1-FY23, an enchancment of 80 bps from yr in the past interval.<\/p>\n
\u201cOn the again of this robust VNB development and with a beneficial premium base for the approaching months, we imagine we’re on monitor to realize our goal of doubling our FY2019 VNB by the tip of this fiscal yr,\u201d N S Kannan, MD and CEO, ICICI Prudential Life Insurance coverage, mentioned.<\/p>\n
He mentioned the 2 focus areas of annuity and safety, which characterize underserved wants of the nation, have additionally performed nicely within the interval.<\/p>\n<\/div>\n