External broker reports(aggregated public sources), Sharekhan

Sharekhan

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External broker reports(aggregated public sources)

Equity Bottom-Up

ICICI Prudential Life Insurance / Equity Bottom-Up

ICICI Prudential Life Insurance (IPRU IN)

<ul><li>VNB margins fell by 166 bps y-o-y to 21.2% versus estimates of 21.5% driven by an adverse product mix.</li><li>Increased surrender value had a limited impact.</li><li>VNB grew by 19% y-o-y (~7% below estimates) in Q3. For 9MFY25, VNB growth of 9% y-o-y much below the targeted high mid-teens.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

VNB margins fell by 166 bps y-o-y to 21.2% versus estimates of 21.5% driven by an adverse product mix.Increased surrender value had a limited impact.VNB grew by 19% y-o-y (~7% below estimates) in Q3. For 9MFY25, VNB growth of 9% y-o-y much below the targeted high mid-teens.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

ICICI Prudential Life Insurance Company Ltd - Margins a Blip