Nirmal Bang: ICICI Prudential Life - Strong Growth In Non-Linked Savings In Q2
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Nirmal Bang Report
ICICI Prudential Life Insurance Company Ltd. reported 22.9% YoY decline in annual premium equivalent at Rs 14.65 billion even as the overall business traction improved significantly on QoQ basis.
The savings APE was down 23.8% YoY due to a 45.1% YoY decline in linked APE.
Given the general risk aversion among consumers, demand for unit linked insurance plans has contracted over the last 12 months, but trends also suggest that traction in this segment has improved QoQ.
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