ICICI Prudential Life Insurance Company Ltd. News and Updates

Name: Latest research reports of ICICI Prudential Life Insurance Company Ltd. authored by HDFC Securities and published by - Trendlyne research reports.
Item: ICICI Prudential Life Insurance Company Ltd.
Rating: 3
Author: HDFC Securities

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ICICI Prudential Life Insurance Company Ltd.

23 Oct 2019

ICICI Prudential Life (2QFY20): In-line. Maintain NEUTRAL

Neutral: ICICI Prudential Life Insu...

Recommendation

HDFC Securities

We like IPRU's re-engineered business model which is focused on a more diversified product mix along with an increased protection share. We expect VNB to grow at FY19-22E CAGR of 17.5%. Lower than expected growth and lower protection share remain key risks. We rate IPRU a NEUTRAL with an unchanged TP of Rs 445 (Sep-20E EV + 19.2x Sep-21E VNB). While IPRUs 2QFY20 APE declined 4.3% YoY to Rs 19.0bn, protection share grew to 14.9% (+560bps vs. FY19). VNB and VNBM increased to Rs 4.0bn (+15.6/29.0% YoY/QoQ) and 21.0% (vs. 17.0% in FY19) respectively.

ICICI Prudential Lif.. has an average target of 757.67 from 9 brokers.

ICICI Prudential Life Insurance Company Ltd.

23 Oct 2019

Business growth remains weak; Operating metrics stable

Buy: ICICI Prudential Life Insu...

Target

Motilal Oswal

This resulted in VNB growing 16% YoY to INR4b, mainly led by Retail and Group Protection business. commission) grew 9% YoY (higher than the premium growth) as operating expenses increased 14% YoY, mainly driven by investment in the protection business. Management also highlighted that there has been decline in the higher ticket size ULIPs in Protection mix improved to 14.9% of the total APE driving 360bp YoY improvement in VNB margins stood at 21% (+360bp YoY) in 2QFY20. APE in the Non-PAR savings (Annuity) segment grew 115% YoY to INR280m Value of new business grew 16% YoY to INR4b in 2QFY20 while for 1HFY20 VNB IPRU Lifes management has taken initiatives to develop a wherein the entire process right from pre-sales, on-boarding to claims & servicing has been smoothened by the company using digital capabilities. We expect Indian insurers to trade at a premium Private sector life insurance companies have 51% market share in total new business APE, and IPRU is amongst the leading players.

Number of FII/FPI investors decreased from 619 to 604 in Jun 2025 qtr

ICICI Prudential Life Insurance Company Ltd.

13 Oct 2019

Fund Call: ICICI Prudential US Bluechip Equity

Business Line

The fund adopts a mix of top-down and bottom-up approaches for stock selection

ICICI Prudential Life Insurance Company Ltd. is trading below all available SMAs

ICICI Prudential Life Insurance Company Ltd.

07 Oct 2019

ICICI Pru Value Discovery Fund: Fund review

Economic Times

ICICI Pru Value Discovery Fund: Fund reviewThe scheme's performance dipped in 2016 and it slipped to third quartile in the value-oriented category.

ICICI Prudential Lif.. has an average target of 757.67 from 9 brokers.

ICICI Prudential Life Insurance Company Ltd.

06 Oct 2019

ICICI Prudential Regular Savings: For investors with a penchant for risk

Business Line

ICICI Pru Regular Savings is one of the top-performing funds from the conservative hybrid funds category, delivering category-beating returns across t

ICICI Prudential Life Insurance Company Ltd. is trading below all available SMAs

ICICI Prudential Life Insurance Company Ltd.

05 Oct 2019

ICICI Pru Regular Savings: For investors with a penchant for risk

Business Line

ICICI Pru Regular Savings is one of the top-performing funds from the conservative hybrid funds category, delivering category-beating returns across t

ICICI Prudential Lif.. has an average target of 757.67 from 9 brokers.

ICICI Prudential Life Insurance Company Ltd.

25 Sep 2019

Persistency, margins on track; return ratios steady

Buy: ICICI Prudential Life Insu...

Motilal Oswal

The company reported ~73% CAGR in protection business APE over FY16-19 and aims to maintain this healthy growth rate. VNB margin is also likely to maintain a positive bias as the business mix continues to improve and the revival in the core savings business initiatives have facilitated an improvement in employee productivity and helped IRPU to reduce the cost ratios. Total opex ratio declined from 11.3% in FY15 to 9.3% in FY19 even as IPRU continued improvement in the persistency levels across cohorts despite volatility in the markets. The improvement in the persistency rate (13 month persistency in PAR products at ~90% better than ULIP products) and controlled cost ratios (which have ensured healthy returns to customers) have enabled IPRU to focus on the PAR business. IPRU has taken a strategic call to move toward balanced product categories and improve granularity in ULIP, which is likely to help reduce volatility in the business.