<ul data-eligibleForWebStory="false"><li>ICICI Prudential Life reported a lackluster Q1 business update with a decline in Annualised Premium Equivalent (APE) growth by 5.2% in June compared to the previous year.</li><li>Q1 APE growth for ICICI Prudential Life dropped by 5% year-on-year to Rs 1,864 crore. Retail APE growth also fell by 9.2% to Rs 1,512 crore.</li><li>Despite the decline in APE growth, the company saw a 4.1% increase in new business premiums in June, amounting to Rs 1,573 crore. The first-quarter new business premiums grew by 6.5% year-on-year to Rs 4,012 crore.</li><li>ICICI Prudential Life Insurance, a joint venture between ICICI Bank Ltd. and Prudential Corporation Holdings Ltd., provides life insurance and asset management services. After the update, its share price initially declined but later pared losses to trade 1.2% lower.</li></ul>

ICICI Prudential Q1 Business Update: Annualised Premium Equivalent Falls 5%

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