Stockrabit · Analysts
Questions across 69 calls

Dipanjan Ghosh

Citi

Life Insurance Corporation Of India

Life Insurance Corporation Of India CC-Sep23.pdf · 2023-11-10
Hi, good evening. A few questions from my side. First, on the agency front, given that you are shifting your focus towards more of non-par, over the last, let's say, 12 months to 18 months, have you seen any change in the activation rate of agents or in terms of the productivity of agents? How do you see that? I mean, by the ticket size, which obviously has been on the upper trajectory. How do you see the activation rate in terms of the new agents, in terms of how the productivity or churn is shaping up? Second, in terms of the non-par business, is there more repricing in any of the product segments or annuities that you have forecasted going into the second half out there? Third question would be in your non-par savings business, individual non-par savings business, can you get some color on whether it would be single pay or regular pay mix or what would be the average tenor or something out there? And lastly, in terms of your group business, you mentioned that you would try to recoup some of the business that probably did not come through in the first half in 2H. Just wanted to get some color on what are the strategies that you're kind of adopting out there and how confident are you on recouping the businesses on the second half?
Sure. My two other questions was one on the non-par mix, individual non-par mix, if you can give some color on the type of product between single or regular pay, average policy turnover or something. And the last question was how confident are you on recouping the group business in 2H and what are the incremental strategies you have adopted for that?

Computer Age Management Services Limited

Computer Age Management Services Limited CC-Sep23.pdf · 2023-11-09
Sir, just a few questions, first if I look at your non-asset based mutual fund revenues, this quarter, on a quarter-on-quarter it seems to be on a flattish side, given that there are a lot of activities going on in the mutual fund space in terms of be it NFOs , or market being buoyant and so I would have expected that mutual fund at least spend ing a little bit more on the spreads. If you can give some color on that, that’s question number one. Question number two is, on your non- MF revenue so if I chip off the KRA business, and look at the other businesses from a momentum perspective sequentially. Like if you look at the Think360 over it has seen relatively flattish down on a Q-o-Q. So, the other businesses have also been not that great in terms of momentum of take on the revenue side compared to let’s say, the client variant or logo variant for business expansion sir. So, I just wanted to get some color on that. Lastly, in terms of expenses, can you give some color on incremental cost that we need to incur on the new businesses and what sort of trajectory should we all see on that?
Sure. Sir, just if I can ask two more follow up questions, one on your AIF side, on an incremental sign ups your competitor highlighted that they have moved from a flat fee based slab to more of our AUM linked class, the ICICI M utual Fund, just wanted to get some color on whether you have also made some changes on that part. Second, is more of a structural question, let say in this quarter for example mutual funds, or last two quarters mutual funds have seen very sharp growth in AUM and some of them have seen change in slabs for themselves on the gross TER side. Your contract more from a two, three-year perspective. So, when they say change in slab, is it like a direct translation that you have built -in in the contract or how does it happen or do you expect pre-negotiations to be much more frequent is this sort of market trajectory, let’s say for hypotheticals?

Star Health and Allied Insurance Company Limited

Star Health and Allied Insurance Company Limited CC-Sep23.pdf · 2023-10-31
A few questions from my side. First on the new business if you can give you r growth for the quarter and also split it between core retail growth through the agency in terms of fresh business. Second, if you look at a premium growth on the retail health side, ex of the banca led business for 1H, which is around 18%. Now a good chunk of it is a mix of premium growth because of FHO offset by some amount of loss in renewal rate. But going into FY25 or FY26, in the absence of this re-pricing of the product in the back book, how you would kind of justify the 20% growth target that you are kind of building in. And lastly, you mentioned something on change in strategy based on LTV of the customer and also some portability related changes. If you can elaborate on how are you kind of reducing the LTV today on the back book, on specific geographies or, what are the key parameters you are considering , all is there any change in strategy of payout to the agent based on the claims ratio that we are witnessing. If you can give some colo ur on the strateg ic changes that we are implementing on the underwriting processes out there, those are the three questions.
Sir, t he first question on your retail health growth through agency, fresh business for the quarter and first half?

Nuvama Wealth Management Limited

Nuvama Wealth Management Limited CC-Sep23.pdf · 2023-10-30
Hi. Good morning, sir. First, congratulations for the listing. Just a few questions from my side. First, you know, on your managed products in wealth division, both on private and Nuvama Wealth, if you can just give some split either on the AUM side or on the revenue side between the product mix that you have? And I think on your...
So, I'll just repeat my questions. First, on your Wealth division, I just wanted to get some colour on the managed products, both on the Private side and on the Wealth side. And on the Private side, you have given the mix between recurring and non -recurring. If you could give us some colour on the similar piece for the Wealth division, for your MPIS piece specifically? That would be my first question. Second would be on P&L reconciliation. While you state a core or adjusted revenue number out there of around INR909 crores for first half, I just wanted to get some sense of where does interest income and net gain on fair value change really sit within tha t? Because in your segmental revenues, you have not explicitly carved out the other income or the volatile part of the investment link part of the revenues out there. And third, on your cost trajectory, if you can give some colour on how do you see that shaping up from here onwards in terms of both business or franchisee or RM expansion and also productivity improvement across the RMs that is available out there. So, these are my three questions. I have two data-keeping questions that I can maybe ask at the end.

SBI Life Insurance Company Limited

SBI Life Insurance Company Limited CC-Sep23.pdf · 2023-10-27
Hi, sir. Good evening, sir. Few questions. First, if I look at your non-par product and see the growth in non -banca and non-agency basically the other channels, that has been relatively robust on your non-par and protection growth. So, could you give some color on what will be the cha nnels and whether it's non -par or par that is growing in this channel? And also, from a policy versus premium perspective, our ticket size perspective? Second, in your other channels if you can give some color on what the mix would be of non-SBI banca? And how the growth has been shaping up and if you're planning on adding a few more banca tie-ups that may be there in the pipeline? Lastly, in your last quarter, you had highlighted that you are taking certain strategic steps to improve productivity at agency, we see some granular data during the quarter, but if you can give some more granular information on how agency is shaping up from both near and from a medium-term perspective out there?
Yes.

Kfin Technologies Limited

Kfin Technologies Limited CC-Sep23.pdf · 2023-10-23
Hi, good morning. So, just a few questions. First, if you can, split your revenue on the international and investor solutions between international and maybe the domestic wealth and AIF business. While you give the split, it seems that there has been a sharp offtake in revenues from the domestic and non -mf investor solution business. And since the funds have broadly moved, or incremental fund additions have broadly moved in line with previous historical trends. I just wanted to get some sense of how asset in any upward revision on the realization in that part of the business. Second, on your yields in the domestic mf business, it was stable quarter-on-quarter. But could you give some color on what could have been the movement assuming the overall equity mix, let's say, would have remained flattish, quarter-on-quarter? And last, your other expense, when you give some guidelines on the tech cost. If you can give some color or guidance on your FY'25 or 26 trajectory on the other expense side?
Sure, well, it is a number of 93% and I appreciate that. Just quarter-on-quarter, my understanding is there has been a significant jump in this alternate revenue. Just really get some sense, I mean, is it like new funds got on boarded at higher realizatio ns or some old funds that have been, changing slabs or the fixed -rate slabs or something. I mean, just wanted to get some color on that.

UTI Asset Management Company Limited

UTI Asset Management Company Limited CC-Sep23.pdf · 2023-10-19
Just a few questions. First from the international business . All of the expenses that you need to incur for the Paris and the US facility, have they been incurred, or can we see some lump sum expenses coming in the second half?
Second. On a standalone b asis, in the last two or three quarters we have seen increase in your employee base quite significantly . Even in a situation where probably AUM growth has been relatively weak. We just want ed to get some sense of where you're really adding these employees and are you strengthening your sales distribution or where are we adding them in?

ICICI Prudential Life Insurance Company Limited

HDFC Life Insurance Company Limited

HDFC Life Insurance Company Limited CC-Sep23.pdf · 2023-10-13
Two questions. One, when you say your high -ticket non-par mix is around 10%-12% for the first 10 months, can you give some color on whether it is more front-loaded or back-ended? Some colour on what would be the mix, be in the first six months versus the last four months? Second, on your non-HDFC Bank, banca channels and your broker channels, is there any payout changes or unit economic changes across credit classes that you're seeing?