Questions across 67 calls

Shreya Shivani

CLSA

Max Financial Services Limited

Max Financial Services Limited CC-Sep23.pdf · 2023-11-01

I have one question on the agency channel. So if I look at the agent count, it was at about 70,000 flat in FY '22, '23. And you mentioned about BCG activity that you had carried out. In the first half, your agent count is up 7,000. It is at 77,000 right now. So while your agent productivity is amongst the better ones in the industry, are you looking at any specific agent base, like maybe, in the next 1 to 2 years, we want to achieve this much agent base or something like that? That's my question.

Got it. And just a follow-up question over there. Is it, do you also track your agents in terms of what kind of quality of customers they bring in terms of probably the profitability pool of their customer base? Or is there any linkage between their performance and the commissions you pay out?

Star Health and Allied Insurance Company Limited

Star Health and Allied Insurance Company Limited CC-Sep23.pdf · 2023-10-31

Sir, I have two questions. First is on the loss ratio side , in the second quarter higher on Y-o-Y basis, so is it fair t o say that, since the seasonal diseases are a little worse this year than last year and if you can help us to understand any provisional numbers for October loss ratios. And my second question is on your conflict with the Ahmedabad Hospital Association sir it will be helpful if you can help us understand, how much progress has happened on that space and any views on the same. Thank you.

Sir, just a follow up on the Ahmedabad issue. So, when you say that the matter is amicably resolved, is it on have you guys taken any what do you call hike on your hospital prices or something like that, what would include in amicable resolution over here, some colour around that would be helpful?

Nippon Life India Asset Management Limited

Nippon Life India Asset Management Limited CC-Sep23.pdf · 2023-10-30

Sir, I had a question on following up with the last question , on the employee expense and the employee count, so probably if you can help us understand there has been a reduction in the employee count and is it correct that the outsourcing of the process that you are talking about has led to the reduction in employee count, just a clarification on that?

So, I am just clarifying that the reduction in employee count is also the outsourcing of the processes and the digitalization which reduces the need for people, right need for manpower?

SBI Life Insurance Company Limited

SBI Life Insurance Company Limited CC-Sep23.pdf · 2023-10-27

Thank you. Sir, I have two questions. First is on the growth outlook. So in the first half on the individual APE, you've delivered 17% growth on a 21% base. So sir, can you help us understand wh at is the outlook for second half and which will be the key products that could drive? Where you're seeing better demand? And will we be closing the full year on 20% growth guidance that you had spoken about in the last quarter? My second question is on the number of policy growth. So, for the first half, the number of individual policies is up 6%, while the individual APE growth, like I said, was 17%. So, sir, can you help us understand what exactly, where is the ticket size growth? And is there more poten tial for NOP growth going ahead? These are my two questions. Thank you.

Sure, sir. And just following-up on the first question. So, I believe that the growth of 17% on individual APE for the first half largely is because of the bancassurance only growing at 16%, right? So, should we expect that, that would be the one of the key channels that could pick-up in second half?

ICICI Prudential Life Insurance Company Limited

ICICI Prudential Life Insurance Company Limited CC-Sep23.pdf · 2023-10-17

I have two questions, Sir, first is on the Group Protection side. You spoke about how the GTI, specifically within Group Protection has seen challenges. Can you help us understand, given that GTI is like 50% of the entire protection which is about 20% of your APE, whether this is an incremental drag on our APE target that we've b een speaking about that we will be able to deliver industry level growth in the second -half, will this be a negative or will this be a drag? My second question is on the performance in the month of September. While I understand that you guys are trying to understand the performance of agency channel better in September, but can you give us some colour on whether this could be because of higher drag from high ticket policies, some of your peers have spoken about certain channels seeing more drag from high ti cket policies, etc., if you can give us some colour on how much drag you guys are seeing on high ticket policies and which are the channels which are getting more impacted and could that be one of the reasons why September was weaker?

Just coming back to the last question that I had asked, so our guidance on APE growth in second half at industry level that gets challenged, right, because of Group Protection, that thesis is correct or am I reading it wrong?

HDFC Life Insurance Company Limited

HDFC Life Insurance Company Limited CC-Sep23.pdf · 2023-10-13

I have two questions. First is on non-par savings product. Can you help us understand how many rounds of IRR cuts have you taken? I believe that the G -Sec yield, which you map has turned around since rate cuts have happened. Any guidance, will the product offer even lesser IRRs to the customers? How do you see this product and the customer offering going ahead? Second is on the protection business. You said that Credit life grew by 28%. Is that new business growth or APE growth? Because group protection APE only grew by 7% in H1. Has the GTI business contracted as a result? Can you give some color on that? Thank you.

ICICI Lombard General Insurance Company Limited

ICICI Lombard General Insurance Company Limited CC-Sep23.pdf · 2023-09-30

Congratulations on a good set of numbers. Sir, coming back on the Motor book, I wanted some more understanding on the loss ratio improvement that has happened in H1 FY 2024 versus Q1 FY2024. I know you don't want us to look at loss ratios on a quarterly basis, but even the H 1 numbers look quite good. That would be one question. Second is on the monthly performance , while I understand your monthly performances do n’t vary, but if you can give us some color in un derstanding what specifically happened in probably August and September because till July, you guys had a very strong run rate of about 20%. Any color around what happened and any growth outlook that you can give? And one more question; third question prob ably. You have launched a new product with ICICI Pru Life, the health and protection product; management mentioned in the conference call yesterday, if you can give us some understanding of the economics of such a product – premium, the way the partnership with ICICI Pru works out. I am assuming this will get sold on the ICICI backed platform. Some color on that.