BENGALURU (Reuters) – Shares of India’s ICICI Prudential Life Insurance fell 10% on Thursday as weak demand led to a sharp fall in its new business margins.
The life insurer, which reported third-quarter results the previous day, said its expected profit margin from new policies declined to 26.7% for the nine months to Dec. 31 from 32% a year earlier.
(Reporting by Nandan Mandayam in Bengaluru; Editing by Janane Venkatraman)
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