ICICI Prudential Life saw a 31% dip in net profits to Rs.180 crore for the March quarter. The company reported a huge Rs.18,898 crore loss on its investments, but a robust growth in its business otherwise. In the previous year, the company had made a profit of Rs.5,839 crore on its investments. These are largely mark-to-market losses after the markets tanked by 35% in the month of March. For the full fiscal year the company reported a net profit of Rs.1069 crore, still down 6.31% on a YOY basis. Its growth push basically came from protection selling. The insurer’s solvency ratio fell to 194.1 from 214.9 in the last year. The CEO said that ICICI Pru Life had witnessed a massive spike in protection covers in the last two months in the light of the COVID-19 syndrome.