ICICI Prudential Q1 Review - Strong Margins Brings Value Of New Business On Track: Prabhudas Lilladher
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ICICI Prudential Q1 Review - Strong Margins Brings Value Of New Business On Track: Prabhudas Lilladher

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.

Prabhudas Lilladher Report

ICICI Prudential Life Insurance Company Ltd. beat expectations with value of new business of Rs 3.58 billion (our estimate: Rs 3.48 billion) with a growth of 78% YoY on back of a superlative margin of 29.4% (our estimate: 25.3%).

Margins improvement of 500 basis points YoY was on back of mix change towards protection and non-par led from all sourcing channels.

Resurrecting sourcing channels from diversified channels with specific product strategy is working well and taking calculated risks has bought back ICICI Prudential's VNB on track of guidance of doubling from FY19-FY23E.

Click on the attachment to read the full report:

Prabhudas Lilladher ICICI Prudential Q1FY22 Result Update.pdf

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