ICICI Prudential Q3 Review - Distribution, Product Diversity To Drive Premium Growth, VNB: Motilal Oswal
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Motilal Oswal Report
ICICI Prudential Life Insurance Company Ltd. posted 14% YoY growth in new business premium, led by a sharp rise in the single premium business.
However, on annaul premium equivalent, new business declined 18% YoY, largely due to unit linked insurance plan plunging 39% YoY (strong trends reported on a sequential basis).
Persistency rate improved in 13th/61st month by 60 basis point/50 basis point QoQ to 82.7%/58.0%.
However, on a YoY basis, it declined across cohorts (barring 61st month). Overall, persistency in the protection segment has improved sharply.
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