IGI Logo

Moderation in premium growth and disbursements

Disbursements grew 14% QoQ; growth run-rate sees a sharp decline v/s earlier quarters

PB Fintech released its quarterly update highlighting key business numbers for 4QFY22. The following are the takeaways:

Total Insurance premium continues to gain traction, with a growth of 21% QoQ and 70% YoY to INR21.8b in 4QFY22. This is marginally lower compared to 24% QoQ growth in 3QFY22.  With this, the total Insurance premium for FY22 grew 46% to INR69.8b.

New business in Life grew 38% YoY in 4QFY22. Total Health Insurance registered a robust growth of 40% YoY.

Disbursements grew 14% QoQ to INR21.9b. However, this is a sharp decline from the run-rate growth established in earlier quarters.

Disbursements grew 126% to INR66.1b in FY22.

The Credit Card business saw a sharp growth in fresh issuances to 73k in 4QFY22 (299%). It issued 162k Credit Cards in FY22 v/s 45k cards issued in FY21.

Over 27m customers availed their credit score in FY22 as compared to 22m in FY21.

Insurance premium through POSP crossed INR2b in Mar’22. This makes it a clear leader in this segment.

Insurance premium in the Dubai business grew 132% YoY to INR1.2b

To Read Complete Report & Disclaimer Click Here

For More Motilal Oswal Securities Ltd Disclaimer http://www.motilaloswal.com/MOSLdisclaimer/disclaimer.html SEBI Registration number is INH000000412

Above views are of the author and not of the website kindly read disclaimer