LIC POSTED ROBUST value of new business (VNB) growth (up 46%y-oy) in Q3FY24,buoyed by a significant improvement in annual premium equivalent (APE) growth and a notable increase in the high-margin non-par savings business driven by its newly introduced plan-Jeevan Utsav. The escalating mark-to-market (MTM) value of the investment portfolio further bolsters its embedded value (EV). We maintain a Buy rating and raise the fair value (FV) to 1,300 from 1,040.
LIC had a solid quarter LIC's performance in the third quarter of FY24 showcased a remarkable 46% growth in VNB, rebounding from the 10% decline observed in the first half of the fiscal year. Notably, the APE exhibited signs of improvement, registering a 7% growth in Q3FY24 compared to the earlier decline ranging from 7% to 12% in 1HFY24.This uptickinAPE is partially attributed to a lower base effect, likely contributing to the growth trajectory in the second half.
هذه القصة مأخوذة من طبعة February 13, 2024 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة February 13, 2024 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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