ICICI Prudential Life Insurance

Bagchi will replace N S Kannan, the current MD & CEO, who will complete his five-year term, and superannuate from service in June

According to the findings of the study, a majority of people want to invest in annuity products as part of their retirement planning

Individuals who are well prepared for retirement start investing even before they turn 40, finds an ICICI Prudential Life Insurance study

Analysts expect stocks to remain under pressure in the near-term as the government's new tax regime push, with no tax saving deductions, could hurt demand for insurance products

Fair value targets of brokerages suggest there is some upside in the two stocks

It is the second-largest private player in terms of VNB

Stocks to watch today: Tata Metaliks reported a sharp fall of 73 per cent in its December quarter net profit at Rs 9.48 crore, on account of increased expenses

Its value of new business (VNB) increased 20 per cent YoY to Rs 618 crore in Q3FY23 compared to Rs 515 crore in the year-ago period

According to the technical analyst from Anand Rathi, HDFC Life can jump to Rs 660; while ICICI Prudential Life can rally to Rs 510.

The company commenced operations 22 years ago in December 2000, and had 'assets under management' of approximately Rs 100 crore at the end of FY2001

Top private insurance firms shed 447 bps as national insurer gets aggressive in group biz

Max Life bucks trend with 11% YoY growth in retail protection APE in Q2

Value of new business growth and margins remained strong in Q2

Nifty's earnings are in high teens and this premium growth merits higher valuations, says Manish Kumar, CIO of ICICI Prudential Life Insurance.

Officials said further investigation revealed that other insurance companies and NBFCs also exploited a similar route to avail of ineligible ITC

'Beyond FY23, our focus will be on the absolute value of VNB, not so much the margins', said Kannan

Protection segment, overall, has witnessed decent growth, mainly because of strong traction in the credit life business, buoyed by disbursement from banks and NBFCs.

Private insurer ICICI Prudential Life has said it is on course to meet its target of doubling the value of new business to Rs 2,560 crore this fiscal from FY19 levels. The optimism of the management to meet the target it had set for itself in the beginning of FY19, when the Value of its New Business (VNB) stood at Rs 1,328 crore, stems from the much more than anticipated VNB growth clocked in the first quarter at Rs 471 crore, which was 31.7 per cent higher than the year-ago period when it was only Rs 358 crore. VNB is a key profitability metric in the life insurance industry as life insurance is a long-term business unlike general insurance which is a year-long commitment. So, VNB means the future profit of a life policy written now. Higher the VNB margin the better will be the profitability of a company. This is calculated by dividing the VNB by annualised premium equivalent or regular premium plus 10 per cent of the single premium. Having already grown so much in the first quarte

This is because this segment is expected to have high demand, given the under-penetration and the pandemic-induced awareness among consumers

CLOSING BELL: The frontline indices climbed on the back of gains in Infosys, ICICI Bank, Kotak Bank, TCS, Axis Bank, L&T, SBI, and Reliance Industries