ICICI Prudential Life share price: Sharekhan maintains a Buy rating on the stock with a revised price target of Rs 584
ICICI Prudential Life Q3 FY21 was a stable quarter, with operational numbers largely matching expectations indicating an encouraging recovery. Annualised premium equivalent (APE) growth momentum continued across channels. APE increased by 13.7% yoy, to Rs 1666 cr, indicating a revert to normalcy. Savings APE stood at Rs 1409 cr, up 14.4% qoq for Q3 FY21.
ICICI Prudential Life has a strong distribution network and Bancassurance channel (courtesy strong partnerships, including with the promoter bank), which is a strong positive for insurance growth in India: Reuters