ICICI Lombard has appointed Parag Lokhande as the Head of Data Science, Artificial Intelligence, and Startup Initiatives.
ICICI Lombard has announced the appointment of Parag Lokhande as the Head of Data Science, AI, and Startup Initiatives. This strategic move indicates the company’s focus on leveraging artificial intelligence (AI) to drive innovation and growth. Lokhande will be...
ICICI Securities has provided an analysis of the life insurance sector, focusing on key players such as HDFC Life, SBI Life, and ICICI Prudential Life.
Key observations include:
- Private sector market share gains: Private life insurers have been steadily gaining market share, with HDFC Life and ICICI Prudential Life being among the top gainers.
- Individual weighted received premium (WRP) growth: ICICI Prudential Life and SBI Life have shown strong growth in individual WRP, with ICICI Prudential Life outpacing the industry average.
- Protection business growth: HDFC Life and ICICI Prudential Life have reported significant growth in their protection business, driven by increasing demand for term insurance products.
- VNB margin expansion: SBI Life and ICICI Prudential Life have seen an expansion in their value of new business (VNB) margins, driven by improved product mixes and cost efficiencies.
- Investment income: All three insurers have reported strong investment income, driven by a rising interest rate environment and higher yields on their investment portfolios.
The analysis highlights the strengths and weaknesses of each insurer, with HDFC Life and ICICI Prudential Life expected to maintain their growth momentum, while SBI Life is expected to gain traction in the protection business and VNB margin expansion.
The life insurance industry in India has experienced strong growth in the first four months of the fiscal year 2026, according to a report by ICICI Securities. The industry’s annual premium equivalent (APE) has increased by 13.7% year-on-year, while the sum...