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.
Motilal Oswal Report
ICICI Prudential Life Insurance Company Ltd. posted ~48% YoY growth in total annual premium equivalent, 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 of new business growth was robust (~78% YoY, 15% beat), with VNB margin improving sharply to 29.4% (500 basis point YoY) versus 25.1% in FY21.
It reported a shareholders’ loss of ~Rs 1.9 billion on account of higher Covid-19 related provisions and claims settlement.
ICICI Prudential settled total gross Covid-19 claims of ~Rs 11.2 billion over Q1 FY22 (3.2 times increase over FY21).
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