EV growth was strong at 26%; maintains at 3.32bn of COVID reserve for claims ICICI Pru Life's APE growth was strong at 28% YoY/53% QoQ in Q4FY21 leading to FY21 de-growth of 12.5% (44% decline in Q1FY21). Growth improvement helped deliver strong VNB growth of 26% YoY/38% QoQ in Q4FY21 to end FY21 at a 1% growth. Management maintains its guidance to double absolute VNB by FY23 on FY19 base which is 28% average growth for next two years. FY21 had tailwinds on VNB margins of 390bps from business mix change (de-growth in lower margin products) and to achieve double VNB...