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:
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.