Adverse impact of product mix (higher linked/par) along with higher cost (commission and opex) and overall competitive environment led to a bigger-than-expected drop in of new business margin to 21.5%/24.6% in Q4 FY24/FY24 versus 32% in FY23. Volume growth may pick up ahead, considering trends in Q4 (11.5% growth in retail annual premium equivalent), bottoming of ICICI Bank Ltd.’s contribution (monthly rate of Rs 0.8–1 billion APE) and well-diversified distribution (agency: 36%; direct:…
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ICICI Prudential Life Q4 Results Review
