We will grow VNB in line with industry after FY23: ICICI Pru Life MD & CEO

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

After the company’s Q1 earnings, N S Kannan, managing director and chief executive officer, ICICI Prudential Life Insurance, spoke to Subrata Panda on the factors propelling growth and the path the company will embark upon. Edited excerpts:

How close are you to achieving the target of doubling the value of new business (VNB)?

In the past we mentioned our objective of doubling our absolute value of new business (VNB) of FY19 in four years. Given what we have done between FY19 and FY22, what needs to be achieved is about 22.5 per cent growth in VNB in FY23. We have