ICICI Prudential Q1 Review - Strengthened Distribution, Product Mix To Drive Growth: Motilal Oswal
An applicant fills out a form.  (Photographer: Shiho Fukada/Bloomberg)

ICICI Prudential Q1 Review - Strengthened Distribution, Product Mix To Drive Growth: Motilal Oswal

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 value 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).

Click on the attachment to read the full report:

Motilal Oswal ICICI Prudential Q1FY22 Result Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.