ICICI Prudential Q4 FY21 Results Review - Business Growth Perks Up On Strengthened Distribution: Motilal Oswal
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Motilal Oswal Report
ICICI Prudential Life Insurance Company Ltd. posted 23% year-on-year growth in new business premium, led by steady traction in both regular and single premium business.
Annual premium equivalent in Q4 grew 27% year-on-year (22% beat, 27% year-on-year decline in M9 FY21), led by a 106% growth in Non-Linked Savings APE.
Annuity APE grew 215% year-on-year (120% for FY21), while linked APE growth recovered to 11% YoY.
Persistency improved across most cohorts, with 13th-month persistency at 84.8% (higher than pre-Covid levels).
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