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.
Nirmal Bang Report
ICICI Prudential Life Insurance Co.'s renewed product strategy gives the company a more stable and a high-margin product mix.
From 80% plus concentration in FY19, the share of linked savings has come down to 44%.
A more prudent product mix, coupled with new distribution tie-ups should aid 19% annual premium equivalent compound annual growth rate over FY21-24E.
Retail protection, where growth rate has been impacted, will be a key growth enabler for ICICI Prudential as underwriting constraints ease and term penetration deepens.
Notwithstanding the transient challenges posed by Covid-19, the retail term opportunity remains large.
Higher rider attachment rates should enhance protection profitability.
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