Performance update: 9M-FY2023
January 17, 2023
Agenda
- Company strategy and performance
- Opportunity
- Industry overview
Agenda
- Company strategy and performance
- Opportunity
- Industry overview
Key strategic elements
Protection
Customer | |||
centricity | Premium | VNB | Persistency |
continues to | Growth | Growth | |
be at core
Productivity
Integrating
ESG with business management
Aspiration to double FY2019 VNB in four years
4
Premium growth
Premium | • Focus on agency & direct to consumer channels |
• | Continue to expand bank partnerships |
growth | |
• | Sustain growth in annuity line of business |
Channels | FY2022 | Q3- | Y-o-Y | 9M- | Y-o-Y | ||
FY2023 | growth (%) | FY2023 | growth (%) | ||||
Agency | 18.28 | 5.16 | 3.2% | 13.78 | 9.9% | ||
Banca (ex-ICICI Bank) | 10.85 | 2.31 | 2.2% | 7.20 | 20.6% | ||
Direct | 9.97 | 2.62 | 2.7% | 6.76 | 0.9% | ||
Partnership distribution | 7.16 | 2.14 | 31.3% | 6.18 | 41.4% | ||
Group | 11.80 | 3.28 | 31.2% | 10.44 | 40.7% | ||
Sub-total | 58.06 | 15.52 | 11.3% | 44.36 | 19.9% | ||
ICICI Bank | 19.26 | 2.69 | (49.7%) | 9.05 | (36.4%) | ||
Total APE | 77.33 | 18.21 | (5.6%) | 53.41 | 4.2% | ||
New business premium | 150.36 | 39.28 | 112.87 | ||||
Annualised premium equivalent (APE) | 5 | ||||||
New business premium (as reported to IRDAI) |
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Disclaimer
ICICI Bank Ltd. published this content on 17 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 January 2023 13:20:05 UTC.