Here’s what augurs well for ICICI Prudential Life Insurance

In a few ideas for profit from Moneycontrol Pro, Neha Dave of Moneycontrol.Com talks about a stock she is tracking closely-- ICICI Prudential Life Insurance.

ICICI Prudential finished FY22 on a positive note. The topline growth as measured by the annualised premium equivalent (APE) was healthy and grew by 20 percent year-on-year. The business transformation, which is reflected in a better product mix, higher margins, the distribution network and the strong guidance for future augurs well for the stock.

ICICI Prudential's new business margins expanded to 28 percent in FY22, from 25 percent in FY 21, and much of it can be attributed to a better business mix. Nearly 50 percent of the new business premium was contributed by protection and annuity segments, both of which are significantly under penetrated parts of the market.