Street cheers for ICICI Pru Life as protection products drive Q4 margin

The results, which were announced on Saturday, saw protection business grow 35 per cent year-on-year growth in Q4

Despite significant business pressure in the March 2020 quarter (Q4FY20), shares of ICICI Prudential Life Insurance Company (ICICI Life) were up 12.2 per cent on Monday. Strong growth and focus on high-margin protection and annuity products lifted sentiment towards the stock, which had corrected by 31 per cent over the last two months until April 24.

The results, which were announced on Saturday, showed its protection business growing 35 per cent year-on-year (YoY) in Q4 and 54.6 per cent in FY20. Thus, the share of protection in the overall annualised premium equivalent (APE) — a common sales measure for life insurers