9MFY2017 FY2017 perform rformance ance review view January - - PowerPoint PPT Presentation

SLIDE 1

9MFY2017 FY2017 perform rformance ance review view

January nuary 24, 4, 2017 017

SLIDE 2

Opportu tunity ity In Indu dust stry ry ov

• ver

erview view

Agend enda

Company any st strategy tegy and per erforma rmanc nce

2

SLIDE 3

Opp ppor

• rtu

tunity ity Indust stry ry over ervie view w

Agend enda

Company any st strategy tegy and per erforma rmanc nce

3

SLIDE 4

Strate ategy: gy: Market et lea eade dership rship + P Prof

• fitable

itable grow

• wth

 Leverag

age market opportunity tunity for saving ing produc ucts ts through ugh

 Deliver

ivery of superio ior r custo tomer mer value ue throug ugh h better produc ucts ts, customer r servic ice, fund nd performanc rmance and claims ims mana nagement ment

 Focus on key local

l markets through ugh customiz ized regional l strategy

 Multi

i prong ng produc uct/ t/ chann nnel l approac ach h to tap protectio ion opport rtun unity ty- Retail il throug ugh h online ine and offline ine mode, Mortgag age link nked and Group up term Segmente mented approac ach h to tap market

• pportunity

tunity- Saving ings & Protectio tion

 Expand

and our protectio tion n busine iness

 Improve customer retentio

ion

 Mainta

tain in market ket-lead leading ing cost efficie ienc ncy Focus on increas asing ing value ue of new busine iness

 Focus on deepening

ning existing ting bancas assur uranc ance relatio ionship nships and seekin ing allianc ances with h new bank nks

 Focus on increas

asing ing scale of our agency ncy distr trib ibutio ution n chann nnel

 Using

ng data analytics tics capabili lity ty to grow w direct t to customers

 Establi

lish h relatio ionship nship with h new non n bank nk partners with focus us on quali lity ty Strengt ngthen hen mult lti i chann nnel l archite tectur ture and explo lore non-tr trad aditi tional nal chann nnels ls Leverag age technol nology for profita itable le growth wth

 Digit

ital aliz izing ing sales and service processes

 Increas

asin ing digit ital al marketing ing and sales

4

SLIDE 5

New ew busi siness ess

5

SLIDE 6

New w Busin iness ess

6

Rs b bn FY2015 FY2016 Growt wth 9MFY20 Y2016 9MFY20 Y2017 Growt wth RWRP1 45.96 49.68 8.1% 33.44 42.77 27.9% APE2 47.44 51.70 9.0% 34.94 44.58 27.6% Savings gs APE 46.68 50.31 7.8% 34.16 42.84 25.4% Protect ction ion APE 0.76 1.39 83.6% 0.78 1.74 122.1 .1%

1. 1. Retail weighted hted received ved premium um 2. 2. Annua ualized d premium um equi uiva valent nt

SLIDE 7

Premium emium summary mary

Compon ponents nts may not add up to the totals s due to roundi nding ng off 7

81.00 00 95.71 71 119.95 9.95 34.32 32 48.21 21 53.57 57 8.97 97 9.14 14 18.13 13 124.29 4.29 153.07 3.07 191.64 1.64 50 50 10 100 15 150 20 200 FY20 FY2014 14 FY20 FY2015 15 FY20 FY2016 16 Rs bn Ret Retai ail re l renewal newal pre remium mium Ret Retai ail n l new busi usiness ness pre remium mium Gro Group up prem remium ium 77.42 42 92.69 69 35.66 66 47.41 41 14.70 70 7.64 64 127.79 7.79 147.75 7.75 50 50 10 100 15 150 20 200 9MF 9MFY2 Y201 016 9MF 9MFY2 Y201 017 Rs bn

SLIDE 8

Market ket share re1

• 1. Retail weighted

hted rece ceived ved premium (RWRP) P) basis Source ce: IRDAI, AI, Life insu suranc nce counc ncil

7.2% 2% 11.3% 3% 11.3% 3% 18.9% 9% 23.0% 0% 21.9% 9% 0% 0% 5% 5% 10 10% 15 15% 20 20% 25 25% 30 30% FY20 FY2014 14 FY20 FY2015 15 FY20 FY2016 16

8

12.1% 1% 13.0% 0% 23.5% 5% 24.5% 5% 0% 0% 5% 5% 10 10% 15 15% 20 20% 25 25% 30 30% 9MF 9MFY2 Y201 016 9MF 9MFY2 Y201 017 Wi Within t thin total al ind industr ustry Wi Within p thin priv ivate s ate secto tor

SLIDE 9

Consistent sistent leadership adership in private ivate sector ctor1

Market Share FY2012 FY2013 FY2014 FY2015 FY2016 9MFY20 Y2017 LIC 63.5% 62.0% 62.0% 51.0% 48.5% 47.0% ICICI Prude dent ntial ial 5.9% 7.0% 7.2% 11.3% 11.3% 13.0% SBI Life 4.4% 5.1% 6.2% 7.7% 9.7% 11.3% HDF DFC Life 5.7% 6.7% 5.2% 7.3% 7.6% 6.2% Max Life 3.1% 3.2% 3.9% 4.8% 4.8% 4.8% PNB Met Life 1.0% 1.2% 1.3% 1.7% 2.1% 1.9% Bajaj aj Allianz anz 2.7% 2.6% 2.2% 1.9% 1.6% 1.9%

9 1. 1. Retail weighted hted received ved premium um (RWRP) P) basis Source ce: IRDAI, AI, Life insur uranc nce counc ncil

Market rket leader ders s in priva rivate te market ket since ce FY2002 02

SLIDE 10

Product duct mix

1. 1. Annua ualized d Premium um Equivalent nt (APE) E) basis 2. 2. Group p exclude udes group up protection ction produc ducts 3. 3. Protection ction incl clude udes retail and group p protection

• n produc

ducts 10

Product duct mix mix1 FY2014 FY2015 FY2016 9MFY20 Y2016 9MFY20 Y2017 Savings gs 97.8% 98.4% 97.3% 97.8% 96.1% ULIP 64.1% 83.1% 80.8% 82.3% 83.1% Parti tici cipat patin ing 18.2% 13.2% 14.1% 13.0% 10.2% Non-Partici articipat patin ing 13.3% 0.6% 0.4% 0.4% 1.4% Group up2 2.2% 1.5% 2.0% 2.1% 1.4% Protect ectio ion3 2.2% 1.6% 2.7% 2.2% 3.9%

22.10 39.40 41.79 6.28 6.26 7.27 5.33 1.02 1.25 0.75 0.76 1.39 10 20 30 40 50 60 FY2014 FY2015 FY2016 Rs bn ULIP Participating Others (savings) Protection 28.74 37.04 4.53 4.56 0.88 1.24 0.78 1.74 10 20 30 40 50 60 9MFY2016 9MFY2017 Rs bn

SLIDE 11

New w business iness sum assured ured

11

506.09 6.09 666.67 6.67 979.40 9.40 422.57 2.57 528.68 8.68 566.85 6.85 928.65 8.65 1,19 195.35 5.35 1,54 546.25 6.25 50 500 1,00 1,000 1,50 1,500 2,00 2,000 2,50 2,500 FY20 FY2014 14 FY20 FY2015 15 FY20 FY2016 16 Rs bn Ret Retai ail Gro Group up 587.71 7.71 1082 82.18 18 440.56 0.56 971.99 1.99 1,02 028.27 8.27 2,05 054.17 4.17 50 500 1,00 1,000 1,50 1,500 2,00 2,000 2,50 2,500 9MF 9MFY2 Y201 016 9MF 9MFY2 Y201 017 Rs bn

SLIDE 12

Channe nnel l mix

1. 1. Annua uali lized ed Premi mium um Equiv ivale lent nt (APE) ) basis is Graphs phs are on Retail APE basis

Channel nel Mix1 FY201 014 FY201 015 FY201 016 9MFY20 2016 16 9MFY201 Y2017 Banca cassu surance rance 53.2% 2% 58.4% 4% 57.3% 3% 60.3% 3% 57.7% 7% Agency cy 28.2% 24.4% 23.8% 21.6% 23.0% Direct 6.3% 8.6% 9.8% 9.2% 11.9% Corpor

• rat

ate agents and brokers rs 9.9% 7.0% 7.0% 6.7% 5.6% Group up 2.5% 1.6% 2.1% 2.2% 1.9%

12

18.33 27.70 29.64 9.71 11.58 12.31 2.16 4.06 5.04 3.39 3.32 3.61 10 10 20 20 30 30 40 40 50 50 60 60 FY FY20 2014 14 FY FY20 2015 15 FY FY20 2016 16 Rs bn Banc Bancass assuranc urance Agenc ency Direc Direct Co Corpo rporate rate Agen ent an and Brok d Broker er 21.07 25.70 7.54 10.24 3.20 5.30 2.36 2.51 10 10 20 20 30 30 40 40 50 50 60 60 9MFY2 9MFY201 016 9MFY2 9MFY201 017 Rs bn

SLIDE 13

Quality ity param amet eters ers

13

SLIDE 14

Persistency sistency1

Month FY2014 FY2015 FY2016 9MFY20 Y2016 8MFY20 Y2017 13 13th

th month

71.5% 79.0% 82.4% 80.9% 83.4% 25 25th

th month

68.4% 65.9% 71.2% 69.2% 72.9% 37 37th

th month

57.3% 64.3% 61.6% 62.3% 64.3% 49 49th

th month

20.3% 54.4% 62.2% 71.6%2 60.6%2 61 61st

st month

12.7% 14.5% 46.0% 28.2% 65.1%

1.

• 1. As per IRDA circu

cular dated d January y 23, , 2014 14 2. 2. Excludi uding ng Single premium um 49th

th month

h persi sisten stency cy for 8MFY201 2017 7 is 59.4 .4% as compa pared d to 58.7% 8.7% for 9MFY201 2016 14

SLIDE 15

Cost t efficiency ficiency

• 1. Expens

nse ratio:

• : All ins

nsur uranc nce expens nses s (excl cl. . commissi sion

• n)

) / (Total al premium um – 90% of single gle premium um)

• 2. Commissi

sion

• n ratio:
• : Commiss

ssion

• n / (Total premium

um – 90 90% of single gle premium um)

• 3. Cost

st / (Total premium um – 90% of single gle premium um) 4. . Cost st / Averag age assets s under management nt during ng the period

• d

FY2014 FY2015 FY2016 9MFY20 Y2016 9MFY20 Y2017 Expens nse ratio (excl cl. . commissio ssion) n)1 13.6% 11.6% 11.0% 12.5% 12.2% Commissio ion n ratio2 5.2% 3.8% 3.5% 3.5% 3.7% Cost/TWR WRP3 18.8% 15.4% 14.5% 16.0% 15.9% Cost / A Averag age AUM4 2.9% 2.5% 2.5% 2.4% 2.7%

15

16.31 31 16.97 97 19.25 25 6.27 27 5.53 53 6.20 20 22.59 59 22.50 50 25.45 45 10 10 20 20 30 30 FY20 FY2014 14 FY20 FY2015 15 FY20 FY2016 16 Rs bn Non- Non-Commis missio ion Commis mission 14.36 36 16.81 81 4.03 03 5.08 08 18.39 39 21.90 90 10 10 20 20 30 30 9MF 9MFY2 Y201 016 9MF 9MFY2 Y201 017 Rs bn

SLIDE 16

Maxim aximiser iser (Equit uity y Fund) nd) Balanc ancer er (Balan anced d fund nd) Protec ector r (Debt bt fund) nd) Preserve rver (Liquid iquid fund) nd)

Super erior ior fund d perfor formance mance acros

• ss

s cycle cles* s*

* As on Dece cembe ber 31, 2016 16 16

94.9% of debt ebt investments vestments in AAA A rate ted and d gov

• ver

ernme nment nt bonds

• nds

7.5% 8.5% 12.9% 9.7% 10.1% 11.1% 4.2% 12.8% 7.6% 8.6% 14.6% 11.4% 10.0% 12.5% 4.2% 15.9% 1Y 1Y 5Y 5Y 1Y 1Y 5Y 5Y 1Y 1Y 5Y 5Y 1Y 1Y 5Y 5Y

Be Benchm nchmar ark Fun Fund

SLIDE 17

17 17

Asset sets s under er manage gement ment

Amongst

• ngst the lar

argest gest fund nd manage nagers rs in Indi dia

Link nked Mix (%) %)

72.4 74.8 74.6 46.3 47.4 48.0 Rs bn Rs bn

Compon ponents nts may not add up to the totals s due to roundi nding ng off

71.7 44.6

423.71 520.97 558.35 382.26 480.86 481.04 200 200 400 400

600 600 800 800 1, 1,000 000 1, 1,200 200

FY2 Y2014 FY2 Y2015 FY2 Y2016

Debt Debt Equit uity

1,001.83 01.83 1,039.39 39.39

47.0

805.97 97 603.10 747 47.78 78 752.96 202.86 254.06 286.44 200 200 400 400 600 600 800 800 1, 1,000 000 1, 1,200 200 FY2 Y2014 FY2 Y2015 FY2 Y2016

Lin inked ed Non-L n-Linke inked

805.97 97 1,001. 01.83 83 1,039. 39.39 39

73.3

Equi uity ty Mix (%)

17

745.18 815 15.12 12 272.13 320.99 1,017.31 17.31 1,136 36.11 11 9MF MFY2 Y2016 9MF MFY2 Y2017 538.84 629.26 478.47 506.86 1,017.31 17.31 1,136 36.11 11 9MF MFY2 Y2016 9MF MFY2 Y2017

SLIDE 18

Profi fitabi tability lity

18

SLIDE 19

Value ue of Ne New Business iness1

1. 1. Indian an Embedde dded d Value basis s on actual al cost 2. 2. Based d on management nt foreca cast st of cost st for FY2017 017 3. 3. As per IRDA circu cular dated d January y 23, , 2014 2014

Rs bn bn FY2015 15 FY2016 16 9MFY20 2017 17 APE 47.44 51.70 44.58 Savings ngs APE 46.68 50.31 42.84 Protec tecti tion

• n APE

0.76 1.39 1.74 Value ue of New Busines ness s (VNB) B) 2.701 4.121 4.212 VNB Margi gin 5.7%1 8.0%1 9.4%2 Indian an Embedde bedded Value ue 138.22 22 139.39 39

•  Growt
• wth in Prote

tecti ction

• n APE of 122.1

.1% %

 Improv

• vem

ement ent in 13th month persi sist stency ncy3 from

• m 80.9%

% in 9MFY2016 016 to 83.4% % in 8MFY20 2017 17

 Cost/T

t/TWRP WRP rati tio

• of 15.9%

% in 9MFY2017 017 compared ared to 16.0% % in 9MFY20 2016 16

19

SLIDE 20

Profit fit After er Tax

20

 Susta

taine ined and d stro rong g pro rofi fitabil tability ity

 Well

ll posi

• sitioned

tioned to capi pitalize talize on growth

• wth oppo

pportunity tunity

15.67 67 16.34 34 16.50 50 3 6 9 12 12 15 15 18 18 FY20 FY2014 14 FY20 FY2015 15 FY20 FY2016 16 Rs bn 372 372 Solvency ncy Ratio (%) Profit it after tax (Rs bn) 337 337 320 320 320 320 294 294 12.47 47 12.74 74 3 6 9 12 12 15 15 18 18 9MF 9MFY2 Y201 016 9MF 9MFY2 Y201 017 Rs bn

SLIDE 21

Summar ary

1.

• 1. Sum assur

ured d as a % % of GDP 2.

• 2. IRDAI

I Retail ail Weight ghted d Rece ceived ved Premium (RWRP) P) 3.

• 3. Retur

urn n on equity: Profit as a f factor

• r of average

ge net worth 

Low penet etrat ation ion1

1 vs mature

ure econom nomies ies and even n lower r densit sity



One of the he fastest est growin ing large e econo nomy my in the e world with h strong rong growth driver ers India: ia: High h growth potent ential ial 1



#1 in India ia on RWRP RP2 basis is for every y year since e FY200 002



Signif gnific ican ant market et share re gain in on RWRP P basis s sinc nce e FY2012 12 Consisten sistent Lead ader ersh ship ip Across ss Cycles es 2



Custo stome mer focused used produc uct suit ite; e; Delive iverin ing supe perior rior value ue through rough produc uct design gn and fund nd performa manc nce



Low grieva vanc nce e ratio io and best in class ss claim ims s settlem lemen ent ratio io Custo stome mer Centric ric Approac ach Across ss Value lue Chain in 3



Access ess to networ work k of ICICI bank k (#1 Indian ian private ate bank k ) ) and d Standar andard d Chart rtered red Bank



Contin inue to invest est in agenc ncy y chann annel, el, adding ing qualit lity y agent nts s and improvin ving produc uctivi ivity



Strong rong focus us on techn hnolo

• logy

gy and digit itization ization to reduce e dependenc ndence e on physic sical al presenc ence Mult lti i Chann nnel el Distr stribu ibution ion backed ed by advanced anced digital ital processe sses 4



Very y low regulat latory ry or inter erest est rate e risk k with h over 80% of APE cont ntribut ribution ion from ULIP P produc ucts; s; Over 90% of debt inve vestment stments s in AAA rated ed and governm rnmen ent bonds ds



Strong rong focus us on renewals ewals (high gh persist istenc ency y ratios) ios) Robust ust & Sust staina ainable le Busin iness ess Model



RoE3 of more than han 30% from FY2012 12 to FY201 016; ; Self f fund nded ed business siness – no capit ital al calls ls sinc nce FY 2009; 9; cumulat ulative ive dividend dend pay-ou

• ut of Rs 45.83

3 bn bn



With strong rong solve venc ncy y of 294% and d less s capit ital al requir uirem emen ent due to produc uct mix, , well posit itioned ioned to take e advant antage ge of growth Delive iverin ing Consisten sistent Return urns s to Sharehold areholders ers 5 6

21

SLIDE 22

Opportu tunity ity Indust stry ry over ervie view

Agend enda

Company any st strategy tegy and per erformanc rmance

22

SLIDE 23

Larg rge and Growing ing Populatio lation Base se1 Driving ving GDP Growth th 3 High h Share of Workin king Populatio lation2 Rising sing Affluenc luence1

 Indian

an econo nomy my poise sed to head towar ards ds susta tained ined growt

• wth fuelled by

favoura urable ble demo mogr grap aphics, hics, rising sing afflue fluence ce

 Growt

• wth rate

te of total al prem emium um writte ten n by the insura uranc nce e indust stry y has outpaced ced the GDP P growt

• wth rate

te

• ver

er the period d of FY FY2002 02-FY201 Y2016

1. 1. Source ce: Econom nomist Intelligenc gence Unit, , CRISIL IL Rese search ch 2. 2. Source ce: UN popul ulat ation

• n division
• n 2015

15 release ase 3. 3. Source ce: World d bank databa base se

Fav avourab urable le demogr

• graph

aphy y to dri rive e mac acro ro gr growth wth

GDP per Capita CAGR (2007 07-2017) 2017)

50 50 54 54 127 127 143 143 208 208 258 258 322 322 1311 13111376 1376 S K S Kore

• rea

S A S Afr frica Japan an Russ ussia Bra Brazi zil Ind ndon

• nesi

sia USA SA Ind ndia China hina

201 015 5 Popula pulation tion (mn) n)

0.6% 0.7% 1.2% 1.3% 2.2% 6.2% 7.4% 11.9% Russ ussia Japan an Bra Brazi zil So South K h Kore

• rea

USA SA Ind ndia Ind ndon

• nesi

sia China hina

23

585 585 739 739

2015 2015 2030 2030

Popula latio tion n of age 25-60 60 years ars (in mn)

4.9% 9.8% 8.5% 6.6% 5.1% 6.9%7.2%7.6%7.0%7.6%7.8% 1.9% 4.3%

• 1.7%

3.1%2.4%2.4%2.7%2.7%2.3%2.7%2.9% FY02FY08FY10FY12FY13FY14FY15FY16FY17FY18FY20 Ind ndia World

SLIDE 24

Share of Insurance in Savings Expected to Rise

Share re of insur suranc ance e in house seho hold ld savi vings ngs

• 1. Source

ce: CSO, RBI *Com

• mpa

pany ny estimat ate 14.4% 4% 26.2% 2% 21.1% 1% 17.0% 0% 15.4% 4% 19.6% 6% 18.3% 3% FY200 2002 FY201 2010 FY201 2012 FY201 2013 FY201 2014 FY201 2015 FY201 2016

Distrib tributio ution n of financ nancia ial l assets sets1

Pro Provide dent / nt / Pen Pensi sion F

• n Fun

und / d / Cl Claim aims s on G

• n Govt

vt Shar hares s / D / Debe bent ntur ures s / M / MFS Life In Insu suran ance ce F Fun und Cu Currenc ncy & y & D Depos posits 24 2.98 8.56 14.23 3 15.00 14.98 8 14.19 9 15.34 34* 2.47 7.75 6.43 7.34 8.63 9.61 10.65 5 45% 45% 48% 48% 31% 31% 33% 33% 37% 37% 40% 40% 41% 41% 0% 0% 20% 20% 40% 40% 60% 60% 20 20 40 40 60 60

FY2002 FY2010 FY2012 FY2013 FY2014 FY2015 FY 2016

Rs tn tn Finan nanci cial s al savin vings gs Phy Physi sical s al savin avings Finan nanci cial s al savin vings a gs as s a % a % o

• f H

Hous

• usehol

hold d Savin vings gs

Househ ehold ld Saving

ings1

 Part

rt of physica hysical l savi vings ngs shifting fting to financial nancial savi vings ngs

 Insur

urance ance shar are e of finan ancial ial savi ving ng 18.3% comp mpared ared to peak eak of 26.2% % in FY2010 010

 Impro

proved ved pro roduct uct pro ropositio sition n of life fe insur urance ance savi vings ngs prod roduc ucts ts

SLIDE 25

270% 270%260% 260% 226% 226% 166% 166%149% 149% 106% 106% 96% 96% 60% 60% 0% 0% 10 100% 0% 20 200% 0% 30 300% 0% 40 400% 0% US US Japan Japan Singap ingapor

• re

Kore Korea Malay Malaysia sia Germ rmany any Thaila Thailand Indi ndia

Sum m assur ured as % of GDP1

Protection

• tection opport

portunity nity

1.

• 1. Source

ce: McKins nsey y analysi ysis 2015 5 and interna nal estimate 2.

• 2. Protection

ction cover verage ge gap: Ratio

• of protection

ction lacki king/pr ng/prot

• tection
• n neede

ded d 3.

• 3. Swiss

s Re, Econo

• nomic

c Rese search ch and Cons nsul ulting ng 2015 15 25

 Sum

m assure ured as % % of GDP low

• w comp

mpar ared ed to othe her r coun untri tries es

 Prot

• tection

tion gap p for

• r India

dia US US $ $ 8.56 trill illion

• n

8.56 6.58 5.30 1.09 0.79 0.77 0.52 0.40 2 4 6 8 10 10 Indi ndia Japan Japan

• S. K

Kore

• rea

Australia ustralia Indo ndonesia nesia Thaila Thailand Malay Malaysia sia Singap ingapor

• re

USD D tn tn

Prote tectio tion n Gap Gap3 92 92 56 85 33 73 78 73 56 Protection coverage gap2,3 (%)

SLIDE 26

Opportu tunity ity In Indu dust stry ry ov

• ver

erview view

Agend enda

Company any st strategy tegy and per erformanc rmance

26

SLIDE 27

Total tal premi emium um (Rs bn) n) Penetra netration tion (as as a % to GDP) P) New busine siness s premiu remium1 (Rs bn) n)

FY2016 16 441 441 3,669 FY2002 02 116 116 501 501 2.1%

21.5% 23.2%

Source ce: : IRDAI, AI, CSO, Life insu suranc nce counc ncil * Compa pany ny estimat ate

Evolution ution of life e insu suranc ance e indust stry y in India

Assets ets under der managem nagement nt (Rs bn) n)

25,294 94 2,304

24.0%

• 1. Retail weighted

hted premium um

• 2. Indi

dividu vidual al and Group p in-for

• rce

ce sum assur ured

FY2010 10 550 550 2,655 12,899 99

• 3.6%

6% 5.5% 11.9%

2.8%

In In-fo force ce sum assured ured2 (Rs bn) n)

11,812* 12* 37,505 05 90,752 52

15.5% 15.9%

2.1% 4.1% 2.7%

In In-fo force ce sum assured ured (as s % to GDP) P)

50.1% 57.9% 66.8% Life fe insura urance ce indust stry pred edomina

• minantly

tly savings ngs oriented ted

27

SLIDE 28

• 1. Retail

ail weight ghted d new busi sine ness s premium um Source ce : IRDAI, AI, Life insu suranc nce counc ncil

Growt wth FY2013 FY2014 FY2015 FY2016 9MFY20 Y2017 Privat ate 1.9%

• 3.4%

15.9% 13.6% 22.7% LIC

• 4.1%

1%

• 3.4%

4%

• 26.3

.3% 2.9% 16.6% 6% Industry ry

• 1.9%
• 3.4%
• 10.3

.3% 8.1% 19.8%

New busine ness ss1

28

38.0% 0% 38.0% 0% 49.0% 0% 51.5% 5% 53.0% 0% 0% 0% 10 10% 20 20% 30 30% 40 40% 50 50% 60 60% 10 100 20 200 30 300 40 400 FY20 Y2013 13 FY20 Y2014 14 FY20 Y2015 15 FY20 Y2016 16 9MF 9MFY2 Y201 017 Rs bn LIC Priv ivate ate Priv ivate mark ate market t share hare

SLIDE 29

Channe annel mix1

• 1. Indi

ndividu vidual al new busi sine ness ss premium um basis Source ce: IRDAI, AI, Public c discl clos

• sur

ures

 Given

Given a well ell deve evelope ped banking anking sec secto tor, r, ban ancas cassur surance ance has has beco come me lar argest gest channel nnel for private rivate player ayers

Indust stry ry Privat ate players rs

29

78% 78% 71% 71% 68% 68% 71% 71% 16% 16% 21% 21% 24% 24% 21% 21% 6% 6% 8% 8% 8% 8% 8% 8% FY20 FY2014 14 FY20 FY2015 15 FY20 FY2016 16 H1FY2 1FY201 017 Agency Ban Bancas assuranc urance Othe Others rs 40% 40% 36% 36% 32% 32% 32% 32% 44% 44% 47% 47% 52% 52% 50% 50% 16% 16% 17% 17% 16% 16% 18% 18% FY20 FY2014 14 FY20 FY2015 15 FY20 FY2016 16 H1FY2 1FY201 017

SLIDE 30

Product t mix1

• 1. New busi

sine ness ss premium um basis Source ce: IRDAI, AI, Life insu suranc nce counc ncil

 Strong

rong val alue ue prop ropositi sition of

• f ULIPs

Ps

 Transpar

sparent nt and low charges es

 Lowe

• wer disco

disconti ntinuanc uance charg harges es up upto yea ear 5 and zer ero sur surren ende der pen penal alty ty afte ter 5 year ars

 Choice

ce of

• f asse

set allocatio cation to to match ch risk sk appet etite te of

• f diffe

ferent custome

• mer

Indust stry ry Privat ate players rs

30

93% 93% 88% 88% 87% 87% 89% 89% 7% 7% 12% 12% 13% 13% 11% 11% FY20 FY2014 14 FY20 FY2015 15 FY20 FY2016 16 Q1FY2 Q1FY201 017 Trad aditi itional al ULI ULIP 71% 71% 62% 62% 57% 57% 59% 59% 29% 29% 38% 38% 43% 43% 41% 41% FY20 Y2014 14 FY20 Y2015 15 FY20 Y2016 16 Q1FY2 1FY201 017

SLIDE 31

Safe fe harbor rbor

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ing stat tatem ements

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holdi lding ng co compan mpany, y, wi with th the the Uni United ed Stat tates Securi ecuriti ties es and and Exc Exchang hange Comm mmission

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ICIC ICI Pr Prud uden enti tial Lif ife Ins Insur uranc ance und nder ertak takes no no oblig

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circums mstanc tances es af after er th the da date thereof.

31

SLIDE 32

Thank k you

32