New Delhi, Jan 21 (PTI) ICICI Prudential Life Insurance on Tuesday reported a 43 per cent surge in net profit of Rs 326 crore for the third quarter ended December 2024.

The life insurance company promoted by ICICI Bank had posted a profit of Rs 227 crore in the same quarter a year ago.

Also Read | Republic Day Parade 2025 Ticket Price, Parade Timing, How To Book Tickets Online and Offline - Here's All You Need To Know.

During the third quarter of the ongoing fiscal year, the net premium income increased to Rs 12,261 crore, as against Rs 9,929 crore a year ago, ICICI Prudential Life said in a regulatory filing.

The assets under management of the company increased to Rs 3.10 lakh crore as against Rs 2.86 lakh crore, it said.

Also Read | Republic Day 2025: Who Unfurls National Flag on R-Day? Who Is the Chief Guest? Who Are Special Guests? When Does Republic Day Parade Start? Get All Answers Here.

The company's solvency ratio was 211.8 per cent against the regulatory requirement of 150 per cent.

During the quarter, the company raised additional capital by issuance of non-convertible debentures of 1,400 crore thereby further strengthening its solvency.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)