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 Company Ltd. remains committed to achieving 28% of new business compound annual growth rate over FY21-FY23, driven by topline growth (in FY22) and VNB margin improvement (in FY23).
Renewed product strategy gives ICICI Prudential a more stable and a high-margin product mix. From 80% plus concentration in FY19, the share of linked savings has fallen to 48% (in H1 FY22).
We expect that over time, the share of linked savings would settle even lower at 40-45% as non-linked savings grows at a faster rate.
Retail protection, where growth rate has been affected due to supply-side constraints, will be a key growth enabler post FY22 as underwriting constraints ease and term penetration deepens.
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