ICICI Prudential's profit, market share down in April, May to Rs 10.12 bn

ICICI Prudential Life’s (ICICI Pru’s) revenue from premiums declined for two straight months in the current financial year, from Rs 13.05 billion in the first two months of FY17 to Rs 10.12 billion at the end of May FY18. 

For its new business, premium revenue also went down 22.4 per cent year-on-year for the month of April and May, compared to the same period in the previous year. Even market share fell from 6.9 per cent at the end of May 2017 to five per cent in May 2018, according to data from the Insurance Regulatory and Developmental Authority of India (IRDAI). The total market share of private life insurers rose from 31.7 per cent in May 2017 to 32.6 per cent at the end of May 2018.