Healthy improvement in VNB margin

Company
11 Mar 2024
5 Min read 
  • Life Insurance Corporation (LIC) reported healthy improvement in VNB margin in its 3QFY24 results.
  •  LIC's net premium grew 5% YoY in 3QFY24, but its market share in premium dropped.
  •  The company launched new products in the non-par segment, supporting growth.
  •  LIC's VNB estimates and EV estimates have been raised due to better-than-expected equity market returns.
  •  The company will focus on alternate channels and expects the banca channel to continue growing.
  •  Reiterate BUY rating with a target price of INR1,270.
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