BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
HDFC Standard Life Insurance Company Ltd. continues with its diversified product/distribution strategy with strong recovery in Q2 FY21 (Total annual premium equivalent growth of 21% in Q2 FY21 compared to 30% decline in Q1 FY21) leading to 135 basis points QoQ improvement in of new business (VNB) margin to 25.7%.
H1 FY21 VNB margin stood at 25.1%. VNB grew 22%/89% YoY/QoQ to Rs 5.5 billion in Q2 FY21.
Product suite is stronger with new high-margin par and group protection products.
Persistency has also recovered for unit linked insurance plans to pre-Covid-19 levels, while non-par book intrinsically has higher persistency.
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