 "ICICI Prudential Life")
The quarter two results for the 2022-23 financial year (Q2FY23) for ICICI Prudential Life Insurance got a mixed reaction from analysts. The value of new business (VNB) grew strongly by 21 per cent year-on-year (YoY) to hit Rs 620 crore. But another key metric, annualised premium equivalent (APE), was flat with roughly 1 per cent growth. In Q2 however, the gross premium grew 3.8 per cent YoY to Rs 9,900 crore, well below expectations of Rs 10,900 crore, with new business premium up 7.3 per cent YoY and renewal premiums up 1.3 per cent.
Margins remain excellent and, in fact,
