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Icici Prudential Life Insurance Comp Ltd * ICICIPRULI has been inching higher for the last three months, after the breakout from a consolidation range. * Formed a fresh buying pivot while holding above the support zone of its short term moving average .i.e 20 EMA. * Set to cross the previous swing high and inch higher. Uptick in volumes is adding to confirmation. * We thus recommend creating fresh longs in the mentioned zone. Buy Icici Prudential Life Insurance Comp Ltd&nbs...
Stock of the day : Buy Icici Prudential Life Insurance Comp Ltd For Target Rs. 615 - Religare Broking Ltd
ICICI Prudential Life Insurance has launched ICICI Pru Protect N Gain, a unique product which offers a comprehensive life insurance cover, protection against accidental death and permanent disability due to an accident and market-linked returns to build long-term wealth and achieve financial goals. The product provides a life insurance cover up to 100 times the annual premium and enables customers to maximise returns by offering 18 funds options spread across equity and debt to choose from...
ICICI Prudential Life Insurance launches `ICICI Pru Protect N Gain`
Flat top-line, increase in costs: ICICI Prudential’s (IPRU) top-line remained muted in Q1FY24 as net premium income increased by 2% YoY to Rs 7,020cr. The flat net premium income was mainly due to decline in first year premium and single premium by 2% YoY and 6% YoY, respectively. Even though, the premium income remained flattish, net commission remained elevated at 25% YoY as first year commission and single commission saw a growth of 23% YoY and 94% YoY, respectively. Annualized premi...
Buy ICICI Prudential Life Insurance Company Ltd For Target Rs. 679 -
ICICI Prudential Life Insurance (IPRU) reported a 3.9% YoY decline in APE (6% beat) in 1QFY24. While savings and annuity segments saw a decline of 6% and 7.1% YoY, respectively, the protection segment registered a growth of 4.2% YoY. * VNB declined 7% YoY to INR4.4b (in line), while VNB margin declined 200bp QoQ to 30% in 1QFY24. Lower margins were led by a change in product mix, wherein the share of non-par savings shifted to par and ULIP products. This was partially offset by strong grow...
Buy ICICI Prudential Life Insurance Company Ltd For Target Rs. 670 - Motilal Oswal Financial Services Ltd
India's ICICI Prudential Life Insurance reported a 33% jump in first-quarter profit on Tuesday, as gains in securities it invested in helped offset muted premium income growth. The insurer's profit after tax rose to 2.07 billion rupees ($25.24 million) in the quarter ended June 30, from 1.56 billion rupees a year ago, it said in an exchange filing. Investment income stood at 163.27 billion rupees compared to a loss of 84.96 billion rupees a year ago, due to increase in market va...
India`s ICICI Prudential posts jump in Q1 profit on investment gains
ICICI Prudential Life Insurance has registered a 32.7% growth in its Profit after Tax (PAT) to Rs. 2.07 billion for Q1-FY2024, exhibiting strong performance for the quarter. The Value of New Business (VNB), which represents the present value of future profits, stood at Rs. 4.38 billion with a VNB margin of 30.0% for Q1-FY2024 A comprehensive suite of products coupled with a need-based selling approach has resulted in the New Business Sum Assured, an indicator of the life cover opted for by...
ICICI Prudential Life Insurance posts strong performance for Q1-FY2024
ICICI Lombard General Insurance and ICICI Prudential Life Insurance have jointly launched an insurance solution, 'iShield', which will provide customers with both health and life insurance. iShield, will enable customers to take care of expenses required for medical treatments. Besides, it will also provide a lump sum amount to the family in case of the unfortunate demise of the policyholder. The health insurance component covers expenses related to hospitalisa...
ICICI Lombard and ICICI Prudential Life Insurance jointly launch 'iShield'
Indian insurers are awaiting clarity on how Housing Development Finance Corp's bonds will be categorised after the lender is folded into HDFC Bank, as they assess the impact of the merger on their debt portfolios. There is uncertainty whether HDFC's bonds will be classified under housing and infrastructure after the merger, and we are awaiting clarification from regulators, Arun Srinivasan, head of fixed income at ICICI Prudential Life Insurance, told Reuters. "In case it d...
Indian insurers await classification of HDFC bonds post-merger; assess impact on holdings
Below View on Outlook for LIC completing 1 year since IPO By Gaurang Shah, Sr. Vice President at Geojit Financial Services We had to BUY recommendation during the IPO Subscription and after that, we have a standalone recommendation to Buy with a long term time horizon and we believe there is a huge market as far as 'Insuring the Uninsured' is concerned. This will not only create opportunities for LIC but also for the other related entities like HDFC Life, ICICI ...
Quote on Outlook for LIC completing 1 year since IPO from Gaurang Shah, Geojit Financial Services
Higher margins lift FY23 RoEV; diversified mix to drive sustainable growth ICICI Prudential Life Insurance (IPRU) reported Rs27.7bn VNB in FY23, achieving the target set by the company in FY19. While this has been achieved largely through improvement in margins (90% driven by change in margin and 10% on account of growth in APE), it was also post covid challenges and decrease in parent bank channel mix from 51% in FY19 to 14% in FY23. Key growth levers ahead include: (1) Possible improveme...
Buy ICICI Prudential Life Insurance Company Ltd For Target Rs. 653 - ICICI Securities
Strong APE & VNB growth driven by new business premium Strong premium growth: ICICI Prudential Q4FY23 Annualized Premium Equivalent (APE) increased by 27% YoY to Rs 33bn on the back of strong New Business Premium (NBP) which grew by 33% YoY. The company successfully doubled its Value of New Business (VNB) in FY23 from FY19 at Rs 27.7bn in FY23 from Rs 13.3bn in FY19 at a CAGR of 20.1% over FY19-23. VNB Margin picking up: The life insurer had subdued VNB margin compared to its peers,...
Accumulate ICICI Prudential Life Insurance Co. Ltd For Target Rs 496 - Religare Broking
Strong overall quarter; rerating on the cards On expected lines, ICICI Prudential (IPRU) reported APE of INR 33bn registering a growth of 26.5% YoY higher than industry growth of 15% YoY. APE growth was driven by strong nonlinked products growth at 104.5% YoY; with other key focused products – annuities and group also witnessed strong growth trends growing at 102% and 41.5% YoY resp. More importantly, management indicated that they do not foresee any material impact on FY24E growth d...
Buy ICICI Prudential Life Insurance Company Ltd For Target Rs. 600 - JM Financial Institutional Securities
Premium/VNB growth healthy; margins moderate sequentially Persistency trends improve across cohorts * ICICI Prudential Life Insurance (IPRU) reported a strong growth in new business APE (+26% YoY; 6% miss) in 4QFY23, led by strong traction in the traditional savings and annuity business even as the ULIP business declined. APE rose 12% YoY to INR86.4b in FY23. * VNB grew 36% YoY to INR10.6b (14% miss), while VNB margin declined 190bp QoQ to 32.0% in 4QFY23. For FY23, VNB rose 28% YoY ...
Buy ICICI Prudential Life Insurance Company Ltd For Target Rs. 550 - Motilal Oswal Financial Services
IPRU addresses multiple doubts emphatically Result Highlights ? VNB margin: Calculated VNB margin decreased by -194bps QoQ to 32.0% driven by various factors ? VNB growth: VNB grew 70.7%/36.1% QoQ/YoY, where the YoY growth was aided by improvement of 226bps in calculated VNB margin ? APE growth: New business APE grew 81.1% QoQ and 26.5% YoY, where the sequential growth was driven by Savings Non-Linked segment ? Expense control: Expense ratio rose 320/204 bps QoQ/YoY as opex rat...
Buy ICICI Prudential Life Insurance Company Ltd For Target Rs. 675 - Yes Securities
Recovery in premium growth to be key for re-rating * The board of IPRU Life has approved the appointment of Mr. Anup Bagchi as MD and CEO for a period of five years, effective 19th Jun’23, subject to regulatory and other approvals. For a seamless transition, he is appointed as Executive Director and Chief Operating Officer, effective 1st May’23. * Accordingly, Mr. Bagchi, who holds the position of Executive Director at ICICI Bank and heads the wholesale banking business, ...
Buy ICICI Prudential Life Insurance Ltd For Target Rs.530 - Motilal Oswal
Our view Apar Industries Ltd (APR) reported highest?ever quarterly revenue, led by growth across Conductors segment (up 103% YoY), Transformers & Specialty Oils (up 38% YoY) and Cables (up 89% YoY). Conductors revenue growth was largely driven by improved share of higher value products and exports (54% vs 29% in 3QFY22). Margins expanded by 360bps YoY owing to higher gross margins. Going forward management expects strong traction in India on the back of a capex?oriented budget, focus o...
Buy Apar Industries Ltd For Target Rs. 1,955 Yes Securities
Recovery in premium growth to be key for re-rating *The board of IPRU Life has approved the appointment of Mr. Anup Bagchi as MD and CEO for a period of five years, effective 19th Jun’23, subject to regulatory and other approvals. For a seamless transition, he is appointed as Executive Director and Chief Operating Officer, effective 1st May’23. * Accordingly, Mr. Bagchi, who holds the position of Executive Director at ICICI Bank and heads the wholesale banking business, has ...
Buy ICICI Prudential Life Insurance Company Ltd For Target Rs.530- Motilal Oswal Financial Services Ltd
Positive surprise on margins; APE growth tepid In 3QFY23, ICICI Prudential (IPRU) reported APE of INR 18.2bn registering degrowth of 5.5% YoY vs 14% for private peers owing to degrowth in linked business. On unweighted basis, IPRU reported +4% YoY premium growth in 3QFY22, lower than the industry (+19%). In terms of product mix, 3QFY23 APE saw a 1030bps YoY decline in ULIP share while nonlinked, protection, group and annuities witnessed a jump of +420bps, +280bps, +180bps and +170bps YoY r...
Buy ICICI Prudential Life Insurance Company Ltd For Target Rs.680 - JM Financial Institutional Securities
FY24 to be mainly about topline growth, with some margin expansion Result Highlights ? VNB margin: Calculated VNB margin increased by 285bps QoQ to 33.9% driven by various factors ? VNB growth: VNB de-grew/grew -0.5%/20% QoQ/YoY, where the YoY growth was aided by strong improvement of 722bps in calculated VNB margin ? APE growth: New business APE de-grew -8.9% QoQ and -5.5% YoY, where the sequential de-growth was driven by Annuity and Protection segments ? Expense control: Expense ratio...
Buy ICICI Prudential Life Insurance Company Ltd For Target Rs.680 - Yes Securities
Finance Minister Nirmala Sitharaman's Budget proposals have dealt double whammy for the life insurers and it would affect the topline growth of some private players, said Emkay Global Financial Services. In a research report, Emkay Global's insurance sector analysts Avinash Singh and Mahek Shah said the Rs 5 lakh cap is likely to affect growth of about 10 per cent premium base for HDFC Life Insurance and Max Life and about 5 per cent premium base for SBI Life Insurance and IC...
Budget Effect: About 15% premium impact on some private life insurers
Value of new business growth provides heft ICICI Prudential Life Insurance Co. Ltd. (IPRU), a joint venture between ICICI Bank and Prudential Corp. Holdings, offers life, health and pension products. * The company’s gross premium rose 3.8% YoY to Rs. 9,895cr in Q2FY23, mainly due to growth in non-linked savings and protection segments, along with continued expansion of partnerships with banks, and growth in agency and direct-to-consumer channels. * Value of new business (VNB) ...
Large Cap: Buy ICICI Prudential Life Insurance Company Ltd For Target Rs.629 - Geojit Financial Services
IPRU delivered a decent H1FY23 financial performance, led by sharp moderation in APE growth in Q2, and offset by sustained strong margins owing to a favorable product mix. While the robust VNB margins continue to impress, we still have concerns about return of topline (APE) growth. In this backdrop, we adjust our FY23-25 estimates to account for the developments in H1 (higher margin, but weaker growth) and reiterate our BUY rating, with our Sep-23 Target Price at Rs620/share. Post the recent ...
Buy ICICI Prudential Life Insurance Company Ltd For Target Rs.620 - Emkay Global Financial Services
Persistency ratios steady; on track to double VNB over FY19-23E * ICICI Prudential Life Insurance (IPRU) posted a flattish new business APE (1% YoY growth) in 2QFY23 as strong growth in group protection and non-linked savings was offset by weak performance in ULIPs and group savings. However, APE grew 10% YoY in 1HFY23 to INR35b. * VNB grew 21% YoY to INR6.2b (8% beat), primarily driven by a 502bp YoY expansion in VNB margin to 31.1% in 2QFY23. For 1HFY23, VNB rose 25% YoY to INR10.9b; ...
Buy ICICI Prudential Life Insurance Ltd For Target Rs. 600 - Motilal Oswal Financial
BASF India Limited • On the daily time frame the stock has decisively broken out four months “rounding bottom formation ” at 2850 levels on a closing basis • This buying support was observed from 20 and 100 day SMA’s which remains a crucial support zone • On the daily and the weekly time frame, BASF India Limited Weekly Tech Picks 05 August,2022the stock has entered in up trend forming a series of higher tops and bottoms • The stock is well pl...
Weekly Tech Picks - BASF India Ltd, Oracle Financial Services Software Ltd, IRB Infrastructure Developers Ltd, ICICI Prudential Life Insurance Company Ltd By Axis Securities
Robust margin drive in line VNB; persistency trend improves Reiterates guidance to double FY19 VNB by FY23 * IPRU posted a 24.7% YoY growth in new business APE, led by an all-round growth of 25%/22% in Savings/Protection. Within Savings, Annuity/NonLinked/ULIPs grew 69%/41%/15% YoY * VNB grew 31.6% YoY to INR4.7b (in line). This was primarily driven by a 128bp QoQ improvement in VNB margin to 31% in 1QFY23. * IPRU remains on track to achieve its stated objective of doubling FY19 V...
Buy ICICI Prudential Life Insurance Ltd For Target Rs. 630 - Motilal Oswal Financial
VNB margin evolution evidently admirable Result Highlights * VNB margin: Calculated VNB margin increased as much as 127bps QoQ to 31.0% driven by favourable product mix change * VNB growth: VNB grew/de-grew 31.6%/-39.2% YoY/QoQ, where the YoY growth was aided by strong growth in APE and improvement in VNB margin * APE growth: New business APE grew 24.7% YoY but de-grew -41.7% QoQ, the sequential decline being largely a function of seasonality * Expense control: Expense ratio ro...
Buy ICICI Prudential Life Insurance Company Ltd For Target Rs.766 - Yes Securities
Key News L&T aims to grow IT & Tech services revenue to high teens by 2026 Engineering giant Larsen & Toubro (L&T) is aiming to grow the Information Technology (IT) services and technology services (TS) revenue contribution to the group to high teens by 2026, said the company in its FY22 annual report. “The IT&TS businesses will continue to balance the risk and cyclicality associated with the traditional projects and manufacturing segment. The momentum from exi...
Key Stock News - Larsen and Toubro, Hindustan Zinc, Tata Steel, Vedanta, ICICI Pru Life - ARETE Securities
ICICI Prudential Banking and Financial Services has announced change in investment factsheets and fund flash for the month ended June 30, 2022. As on Jun 30, 2022, the total size of the Fund was Rs 4,744.80 crores, compared with Rs 4,885.18 crores in the last month. The Fund's NAV per unit was Rs 78.19 for Growth, while 52-Week High and Low ranges were Rs 91.42 and Rs 72.48 respectively. The Equity - Sector Fund fund with Growth plan was launched on Jul 09, 2008 and managed by Fund Manage...
ICICI Prudential Banking and Financial Services: change in investment factsheets for June 2022
Successful transformation to a more balanced player Protection & non-par savings remain focus segments; reiterates VNB doubling guidance * ICICI Prudential Life’s (IPRU) Annual Report reaffirms the company’s focus on steadily diversifying its product mix, especially, the non-par savings & protection segment. * The addition of new-age partners and a wider presence across traditional channels will boost its business growth. The share of banca channel (excluding ICIC...
Buy ICICI Prudential Life Insurance Ltd For Target Rs.630 - Motilal Oswal
Religare Super Idea** To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.religareonline.com/disclaimer SEBI Registration number is INZ000174330 Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
Buy ICICI Prudential Life Insurance Ltd Jun Futs For Target Rs.503 - Religare Broking
Religare Super Idea** To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.religareonline.com/disclaimer SEBI Registration number is INZ000174330 Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
Buy ICICI Prudential Life Insurance Ltd For Target Rs.568 - Religare Broking
Robust margin drives VNB beat; persistency trend improves Reiterates guidance to double the FY19 VNB by FY23 IPRU Life posted 4% YoY growth in new business APE over 4QFY22 propelled by a healthy 33% YoY growth in Protection segment while Nonlinked sales increased 4% YoY and were in line with the overall growth rate. ULIP business reported a marginal 1% decline, adversely affected by volatile capital markets. VNB grew 31% YoY to INR7.8b (21% beat). This was primarily driven by healthy...
Buy ICICI Prudential Life Insurance Ltd For Target Rs.675 - Motilal Oswal
More levers to grow VNB; valuations attractive We remain enthused with IPRU Life’s product and channel diversification strides, which has made the business considerably more robust than before. This is illustrated by the fact that the Rs21.6bn FY22 VNB mix is split between 16% by ULIPs, 43% by protection and 41% by non-linked savings. While volume growth has been volatile, product/distribution levers are available for VNB (volume and margin) growth, which should ensure >15% RoEV. ...
Buy ICICI Prudential Life Insurance Ltd For Target Rs.720 - ICICI Securities
IPRU poised to see renewed interest in retail protection Result Highlights VNB margin: Calculated VNB margin increased as much as 302bps QoQ to 29.7% largely due to rise in share of overall protection and non-linked products VNB growth: VNB growth was 31.1% YoY and 50.5% QoQ, aided by strong sequential growth in APE and improvement in VNB margin APE growth: New business APE growth was 4% YoY and 35.2% QoQ, with all businesses displaying healthy sequential growth Expense control...
Buy ICICI Prudential Life Insurance Company Ltd For Target Rs.787 - Yes Securities
ICICI Prudential Asset Management Company (AMC) has announced that the AMC is in the process of initiating change in Fundamental Attributes of ICICI Prudential Quant Fund. A written communication informing the proposed changes will be sent to existing investors and an addendum will be published in this regard. Further, existing investors will be provided an option to exit for a period of at least 30 days without payment of exit load, if any.
ICICI Pru AMC announces Change in Fundamental Attributes of Quant Fund
Robust performance; Promising Outlook ICICI Prudential Life Insurance Co. Ltd. is a joint venture between ICICI Bank and Prudential Corp. Holdings. The issuer offers protection for life and health along with pension products and services. * Q3FY22 gross premium up 2.1% YoY to Rs. 9,344cr and net premium up 1.1% YoY to Rs. 9,074cr, supported by well diversified product and distribution mix. * VNB grew 34.8% YoY to Rs. 1,388cr in 9MFY22, aided by strong growth of 29.7% in New business ...
Large Cap : Buy ICICI Prudential Life Insurance Ltd For Target Rs.657 - Geojit Financial
Healthy margins drive VNB beat; persistency trends steady Renewal growth remains tepid * ICICI Prudential Life (IPRU) posted ~16% YoY growth in New Business APE, led by healthy trends in the Protection (19% YoY) and ULIP businesses. Protection growth was supported by higher growth in the Credit Life business, led by improved credit demand and an increase in product pricing. Shareholder PAT stood at INR3.1b (~2% YoY growth). * VNB grew ~20% YoY to INR5.15b (~13% beat). This was led by...
Buy ICICI Prudential Life Insurance Ltd For Target Rs.760 - Motilal Oswal
Stable quarter; focus on topline growth outlook ICICI Prudential’s 9MFY22 results were broadly on the expected lines. Since IPRU’s monthly new business numbers were already known, the key monitorables in the results were VNB margin, trends in protection and growth outlook. The key to management’s target of doubling FY19 VNB by FY23 is stronger APE growth in FY23 (on a relatively stronger base) as the scope of margin improvement is relatively limited. We maintain our Hold ...
Hold ICICI Prudential Life Insurance Company Ltd For Target Rs.725 - Emkay Global
Key News AGS Transact Tech mobilises Rs 204 cr from anchor investors ahead of IPO Payment solutions provider AGS Transact Technologies on Tuesday raised Rs 204 crore from anchor investors ahead of its initial share-sale that opens for public subscription on Wednesday. The company has allotted over 1.16 crore equity shares to anchor investors at Rs 175 apiece, aggregating the transaction size to Rs 204 crore, according to a circular uploaded on BSE website. Ashoka India Equity Investm...
Key News - AGS Transact Technologies Ltd , Tata Elxsi Ltd , TV18 Ltd, L&T Technology Services Ltd , ICICI Prudential Life Insurance Ltd By ARETE Securities
IPRU continues to diversify product and channel mix Result Highlights * VNB margin: Calculated VNB margin increased as much as 65bps QoQ to 26.7% primarily due to rise in share of overall protection * VNB growth: VNB growth was 20.3% YoY and flat QoQ as APE growth was negative on sequential basis * APE growth: New business APE growth was 15.8% YoY but -2.4% QoQ, with only Linked and Protection businesses displaying sequential growth * Expense control: Expense ratio rose 102/176...
Buy ICICI Prudential Life Insurance Company Ltd For Target Rs.837 - Yes Securities
Diversification in product as well as channel mix * While IPRU has had to turn cautious with regard to retail protection in recent times, IPRU remains the best play on the retail protection opportunity: Slowdown in retail protection has resulted due to a variety of temporary reasons such as (1) Feedback from reinsurers (2) Pandemic environment and (3) Reluctance for medical testing. However, IPRU’s superior protection opportunity size is derived from its large wealth customer base si...
Buy ICICI Prudential Life Insurance Company Ltd For Target Rs.836 - Yes Securities
ICICI Prudential Mutual Fund (MF) has declared distribution under Income Distribution cum capital withdrawal option (IDCW option) to unit holders of ICICI Prudential Banking & PSU Debt Fund (the scheme). The record date for the same is December 28, 2021. The quantum of IDCW on the face value of Rs 10 per unit will be Rs 0.0702 under Quarterly IDCW, and Rs 0.0958 under Direct Plan- Quarterly IDCW.
ICICI Pru MF declares IDCW under Banking & PSU Debt Fund
Business mix more balanced than ever; volume vs margin pose near-term quandary ICICI Prudential Life’s (IPRU) business strategy has over the years diversified well enough to remove dependence on ULIPs, any particular bank as well as retail protection. This makes the business more resilient and flexible to adapt to changing consumer demand and was the main reason for our multiple upgrade last quarter. However, we believe IPRU has to continue this momentum and achieve annual APE/VNB le...
Add ICICI Prudential Life Insurance India Ltd For Target Rs.730 - ICICI Securities
Strengthened distribution and product mix drives growth; persistency trends stable VNB margin moderates due to slower Protection sales * IPRU posted ~35% YoY growth in new business APE, led by healthy trends in the Annuity segment (~67% YoY), while ULIP growth bounced back strongly (~44% YoY). Protection growth was aided by Credit Life/Group Term, while Retail Protection growth stood weak. On the distribution side, growth was supported across all channels (barring ICICIBC). IPRU continu...
Buy ICICI Prudential Life Insurance Ltd For Target Rs.780 - Motilal Oswal
In-line performance; no surprises ICICI Prudential’s H1FY22 results were broadly on the expected lines. Since IPRU’s monthly new business numbers were already known, the key monitorablesin the results were VNB margin, EV growth, Covid-19 claims development and future guidance. * VNB and VNB margin growth on estimated lines: The value of new business (VNB) grew 45% YoY to Rs 8.7bn in H1FY22, led by ~40% yoy APE growth (from low base of H1FY21) and 1ppt VNB margin expansion to...
Hold ICICI Prudential Life Insurance Ltd For Target Rs.760 - Emkay Global
Buy ICICI Prudential Life Insurance Ltd For Target Rs.836 Sluggishness in retail protection business is a temporary phenomenon Result Highlights * VNB margin: Calculated VNB margin shrunk as much as 332bps QoQ to 26% primarily due to sluggishness in retail protection * VNB growth: VNB growth was healthy at 43.9%/28.4% QoQ/YoY as IPRU remained acutely focused on overall VNB growth as opposed VNB margin * APE growth: New business APE growth was strong at 62.2%/34.9% QoQ/YoY drive...
Buy ICICI Prudential Life Insurance Ltd : Sluggishness in retail protection business is a temporary phenomenon - Yes Securities
Strengthened distribution and product mix to drive growth Higher COVID-19 claims drives shareholders’ losses * IPRU posted ~48% YoY growth in total APE, led by healthy (66%/~164%) trends in the Non-Linked Savings/Annuity business, while linked APE growth bounced back strongly (49%). Growth in the Protection segment was mainly aided by Credit Life/Group term, while Individual Protection saw a decline. Absolute VNB growth was robust (~78% YoY, 15% beat), with VNB margin improving sh...
Buy ICICI Prudential Life Insurance Ltd For Target Rs.700 - Motilal Oswal
Result Highlights * NBP – NBP was at Rs 25.6bn was in line with our estimate and registered a growth of 71% yoy, The growth was a contribution of strong of 89% yoy in single premium and healthy growth of 40% in First year premium on yoy basis. * APE – APE at Rs 12.2bn was higher than our estimate of Rs11.1bn. APE growth was at 48.1% yoy. Growth was driven by strong performance across all product classes. * APE Mix – Share of ULIPs was flat while that of ...
Buy ICICI Prudential Life Insurance Ltd For Target Rs. 758 - Yes Securities
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