BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
The big strategic achievement from FY21 for ICICI Prudential Life Insurance Company Ltd. is the establishment of an ex-ICICI Bank product as well as distribution capability.
Key effects of this strategy include:
- Growth in non-linked savings portfolio by healthy 56% year-on-year in FY21,
- the introduction of guaranteed savings as well as deferred annuity products and
- spurt in new distribution channels with ~600 partnerships including 23 banks and > 185,000 advisors.
As such, despite ICICI Bank’s contribution declining to 31% of the overall APE which in turn declined 13% year-on-year, the total FY21 of new business was flat at Rs 16 billion.
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