ICICI Prudential Life Insurance is one of the largest private life insurance company. The stock has significantly outperformed private peers in CY24. While HDFC Life Insurance and SBI Life have delivered negative returns YTD (year-to-date), ICICI Pru life’s stock has rallied 25% in the same period. After 4-5 years of no growth and only margin expansion, ICICI Pru has delivered robust growth in the past four quarters. Going forward, ICICI Pru is set for a strong growth in APE and market share gain through its focus on diversified distribution channel, supplemented by product launches. With the reduced dependence on ICICI Bank, ICICI Pru’s growth has been driven by proprietary channels, such as agency (30 percent of APE) and direct (16 percent of APE).Going forward, the focus will be on single insurance channel (exclusive partners), which includes ICICI Bank and Standard Chartered Bank, agency and direct business (digital and cross-sell)
first published: Dec 31, 2024 08:00 am
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