The web revenue stood at Rs 199.5 crore towards Rs 445 crore within the year-ago interval. The new business premium for the quarter was 7.3% greater at Rs 4253 crore towards Rs 3963 crore.
The annualised premium equal (APE) grew sequentially, by 32% for Q2-FY2023.
In the primary half, the brand new business premium witnessed a year-on-year progress of 13.9% at Rs 7359 crore.
The firm stated its worth of the brand new business (VNB), a key measure of profitability, grew 25% within the first half to Rs 1092 crore with the VNB margin increasing to 31% from 27.3% seen for H1FY22.
Persistency ratios have improved throughout all cohorts, the insurer stated. The Thirteenth-month ratio, which is consultant of the standard of business, stood at 85.9% for H1-FY2023, an enchancment of 80 bps over H1-FY2022.
