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Dolat Capital Report
ICICI Prudential Life Insurance Company Ltd. reported a strong sequential growth with overall annual premium equivalent growing to Rs 14.7 billion in Q2 FY21 (up 78% QoQ, down 23% YoY) led by the pick-up in the savings business, which doubled sequentially to Rs 12.3 billion in Q2 FY21.
We expect the overall APE to decline by 21.5% YoY to Rs 58 billion and the savings APE to decline by 24% to Rs 47.7 billion for FY21.
Unit linked insurance plan portfolio has shown sequential improvement of approximately 95.3% and was Rs 7.01 billion during the quarter.
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