The GWP reported growth of 16.2% YoY but declined by 40.5% QoQ to INR 1,16,728 Mn in Q1FY24. The NBP grew 18.6% YoY% to INR 58,687 Mn, while the renewal premium reported a growth of 13.8% YoY. The stability in persistency led to healthy trends in renewal collection.