ADVERTISEMENT

ICICI Prudential Q3 Review - New Business Margins Led By Improving High Margin Product Contribution: KRChoksey

ICICI Pru Q3 Review - New Business Margins Boosted By Improving High Margin Product Contribution: KRChoksey

An applicant filling a form. (Photographer SeongJoon Cho/Bloomberg)
An applicant filling a form. (Photographer SeongJoon Cho/Bloomberg)

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.

KRChoksey Research Report

ICICI Prudential Life Insurance Company Ltd. reported a moderate annual premium equivalent growth of 15.5% YoY. The business momentum remained healthy in Q3 FY22, led by strong growth in protection and unit linked insurance plans segment. New business premium grew by 12.3% YoY to Rs 38,993 million in Q3 FY22.

The company continued to focus on its well-diversified product mix with linked savings at 50%, traditional savings at 29%, protection at 17%, and the balance 4% accounted for by group savings products.

With the focus on change in product mix and protection business, new business sum assured grew by 25% YoY in 9MFY22. ICICI Prudential's management believes that the long-term structural play for the protection business is intact, and the retail protection will see a strong pick up in the upcoming quarters.

Click on the attachment to read the full report:

KRChoksey ICICI Pru Life Q3FY22 Result Update.pdf

DISCLAIMER

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.