Questions across 4 calls

Prithvish Uppal

Elara Securities

HDFC Life Insurance Company Limited

HDFC Life Insurance Company Limited CC-Dec24.pdf · 2025-01-15

Just wa nted to understand where you see the business mix moving in the second half given that we have some pricing competition intensity in annuity and Credit Protect and we want to be a little more calibrated around the ULIP segment. So , w hich products do you se e driving the gro wth for us in the second half? And particularly around non-par as well, given the uncertainties that are there with distribution, what is the outlook for how you see this particular segm ent performing as well? And basis this, if you look at your full year guidance, the margin for the second half works out be between a 26% -27% kind of range. So what products do you think would essentially drive that?

And just continuing on one of the questions from an earlier caller, which is as peers and competition looks at revising the IRRs downwards, because the spreads compared to what we were offering was significantly higher for some of the smaller and mid -sized companies. So as these spr eads narrow and given with interest rate movement , repricing should come through. How are you looking at the segment from a competition perspective and in terms of how favorable you see the scenario can play out for HDFC Life?

HDFC Life Insurance Company Limited CC-Sep24.pdf · 2024-10-15

Just wa nted to understand where you see the business mix moving in the second half given that we have some pricing competition intensity in annuity and Credit Protect and we want to be a little more calibrated around the ULIP segment. So , w hich products do you se e driving the gro wth for us in the second half? And particularly around non-par as well, given the uncertainties that are there with distribution, what is the outlook for how you see this particular segm ent performing as well? And basis this, if you look at your full year guidance, the margin for the second half works out be between a 26% -27% kind of range. So what products do you think would essentially drive that?

And just continuing on one of the questions from an earlier caller, which is as peers and competition looks at revising the IRRs downwards, because the spreads compared to what we were offering was significantly higher for some of the smaller and mid -sized companies. So as these spr eads narrow and given with interest rate movement , repricing should come through. How are you looking at the segment from a competition perspective and in terms of how favorable you see the scenario can play out for HDFC Life?

ICICI Prudential Life Insurance Company Limited

ICICI Prudential Life Insurance Company Limited CC-Sep24.pdf · 2024-10-22

So, firstly, just wanted to understand on the annuity side, I think one of the competitors had highlighted that there are some concerns around the pricing. So, we reported a good set of numbers in annuity. So, what is the outlook for this segment given where the competition is? So, that is the first part. The second part would be related to the group protection. So, here, there has been degrowth, so is this purely credit life driven or there is some element of group term also and has the pricing environment for group term improved? And third question would be around ULIP . At a product level , has the margin profile of ULIPs increased given the higher share of sum assured that companies have been selling. So, to that extent, would that have also had some impact in terms of negating the margin decline on account of the ULIP mix increasing? So, these are my three questions.

ICICI Lombard General Insurance Company Limited

ICICI Lombard General Insurance Company Limited CC-Sep24.pdf · 2024-10-18

Just wanted to understand the context of the rising CAT losses. Can you put some color in terms of how the pricing is on the reinsurance side, specifically on the CAT events, how do you see that possibly moving the next year or in the medium term? And in case there is some kind of reinsurance price hike, what strategy do you think would be viable at an industry level, the passing on of the cost or the absorption? Second, I wanted to understand in the Health segment, what is the mix between the old and the new book? And if possibly you could give some color on the loss ratio split between the renewal book and the new book?

So just one follow up, in terms of the industry loss ratios that we are seeing across the board have been rising. So, is that driven more by frequency of claims or is it just purely claim size that has been increased?