Leadership adership in life fe insurance rance Nov ovember - - PowerPoint PPT Presentation

SLIDE 1

Leadership adership in life fe insurance rance

Nov

• vember

ember 2015 015

SLIDE 2

Indust stry ry over ervie view w Outlook

• k

Agend enda

Company any st strategy tegy and per erformanc rmance

2

SLIDE 3

Indust stry ry over ervie view w Outlook

• k

Agend enda

Company any st strategy tegy and per erformanc rmance

3

SLIDE 4

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

FY2015 15 408 408 3,277 FY2002 02 116 116 501 501 2.1%

21.5% 23.2%

Sourc rce: : IRDA DAI, I, CSO, Life insuranc urance counc ncil il * Comp mpany any estim imat ate

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

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

23,442 42 2,304

24.0%

• 1. Retai

ail l weig ighted ted premium mium

• 2. Individ

ividual al and Group in-forc rce e sum assu sured ed

FY2010 10 550 550 2,655 12,899 99

• 5.8%

4.3% 12.7%

2.8%

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

11,812* 12* 37,505 05 78,786 86

15.5% 16.0%

2.1% 4.1% 2.6%

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

50.1% 57.9% 62.8%

4

SLIDE 5

• 1. Retai

ail l weig ighted ted new busin iness s premium mium Sourc rce : IRDA DAI, I, Life insuranc urance counc ncil il

Rs Rs bn bn

Growt wth FY2012 FY2013 FY2014 FY2015 H1FY20 Y2016 Privat ate

• 23.9

.9% 1.9%

• 3.4%

15.9% 15.2% LIC 11.2% 2%

• 4.1%

1%

• 3.4%

4%

• 26.3

.3%

• 11.1

.1% Industry ry

• 4.8%
• 1.9%
• 3.4%
• 10.3

.3% 0.4%

New busine ness ss1: : Pri rivate te player yers s showin wing g stro rong g gro rowth

45.7% 7% 36.5% 5% 38.0% 0% 38.0% 0% 49.0% 0% 50.2% 2% 0% 0% 10 10% 20 20% 30 30% 40 40% 50 50% 60 60% 50 50 10 100 15 150 20 200 25 250 30 300 35 350 FY20 FY2011 11 FY20 FY2012 12 FY20 FY2013 13 FY20 FY2014 14 FY20 FY2015 15 H1FY2 1FY201 016 LI LIC Priv ivat ate Priv ivat ate mar market t shar hare

5

SLIDE 6

Bancas ncassu suranc rance e dominant

• minant chan

annel nel for r priva ivate te players yers1

Indust stry ry

• 1. Individ

ividual al new business iness premium mium basis is Source: : IRDA DAI, I, Public lic disclo losur sures Components nts may y not add up to the totals als due to rounding ing off

• ff

Privat ate players rs

6

44% 44% 40% 40% 40% 40% 36% 36% 33% 33% 39% 39% 43% 43% 44% 44% 47% 47% 48% 48% 17% 17% 17% 17% 16% 16% 17% 17% 19% 19%

FY FY20 2012 12 FY FY20 2013 13 FY FY20 2014 14 FY FY20 2015 15 Q1 Q1FY FY201 016

Agency Ban Bancas assuranc urance Othe Others rs

 Given

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

 LIC- 95

95% of

• f Indi

dividual idual new busine siness sales les contribute ntributed by by agency ency

79% 79% 78% 78% 78% 78% 71% 71% 71% 71% 15% 15% 16% 16% 16% 16% 21% 21% 20% 20% 6% 6% 6% 6% 6% 6% 8% 8% 8% 8%

FY FY20 2012 12 FY FY20 2013 13 FY FY20 2014 14 FY FY20 2015 15 Q1 Q1FY FY201 016

Agency Ban Bancas assuranc urance Othe Others rs

SLIDE 7

Share e of ULIPs Ps on th the e rise se1

Indust stry ry

• 1. New business

iness premi mium um basis is Source: : IRDA DAI, I, Life insuranc urance counc ncil il

7

 Strong

rong val alue ue prop ropositi sition of

• f ULIPs

Ps

 Transpar

sparent nt and low charges es

 Lowe

• wer disconti

discontinuous uous char harge ges up upto to yea ear 5 and and ze zero ro sur surrend ender er 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

59% 59% 65% 65% 71% 71% 62% 62% 60% 60% 41% 41% 35% 35% 29% 29% 38% 38% 40% 40%

FY FY20 2012 12 FY FY20 2013 13 FY FY20 2014 14 FY FY20 2015 15 Q1 Q1FY FY201 016

Trad aditi itional al UL ULIP

Privat ate players rs

85% 85% 90% 90% 93% 93% 88% 88% 88% 88% 15% 15% 10% 10% 7% 7% 12% 12% 12% 12%

FY FY20 2012 12 FY FY20 2013 13 FY FY20 2014 14 FY FY20 2015 15 Q1 Q1FY FY201 016

Trad aditi itional al ULI ULIP

SLIDE 8

Indust stry ry over ervie view w Outlook

• k

Agend enda

Company any st strategy tegy and per erformanc rmance

8

SLIDE 9

Larg rge and Growing ing Populatio lation Base se1

50 50 53 53 127 127 143 143 201 201 251 251 316 316 1,238 238 1,350 350 So South Korea ea So South Africa Japan Russ ssia Br Brazil Indonesi esia USA India China 2013 013 Population (mn mn)

Driving ving GDP Growth th 3 High h Share of Workin king Populatio lation2 Rising sing Affluenc luence1

2.1% 1% 2.5% 5% 3.4% 4% 3.6% 6% 5.4% 4% 7.5% 5% 9.8% 8% 10.1% 1% 14.4% 4% Japan USA So South Korea ea So South Africa Br Brazil Russ ssia India Indonesi esia China GDP per Capita CAGR (200 007- 2017) 017)

 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 Y2015

1.

• 1. Source:

: Econo nomist ist Intelli lligenc nce Unit it 2.

• 2. Source:

: UN popula latio ion n divisio ision n 2013 3 releas ase 3.

• 3. Source:

: World bank k database abase

4.9% 9.8% 8.5% 6.6% 5.1% 6.9% 7.3% 7.5% 7.9% 8.0% 1.9% 4.3%

• 1.7%

3.1% 2.4% 2.5% 2.6% 2.8% 3.3% 3.2% FY02 FY08 FY10 FY12 FY13 FY14 FY15 FY16 FY17 FY18 Ind ndia World

Fav avourab urable le dem emograph

• graphy

y to dri rive ve macr acro

• gr

growth wth

585 585 639 639 691 691 739 739 201 2015 202 2020 202 2025 203 2030

Populat ation

• n of age 25-60 years

s (in mn mn)

9

SLIDE 10

Share of Insurance in Savings Expected to Rise

 India

dia has s a high gh househo usehold d savi vings ngs rate te

 Part

rt of physica hysical l savi vings ngs shifting fting to finan ancial ial savi vings ngs

Fi Financ ancia ial l savings ings headed ded toward rd a rebound

• und

Financi ncial l year 2002 02 2008 08 2010 10 2011 11 2012 12 2013 13 2014 14 2015 15 Financi ncial l saving ings / GDP GDP 10.5% 5% 11.6% 6% 12.0% 0% 9.9% 9% 7.3% 3% 7.0% 0% 7.2% 2% 7.6% 6% House usehol hold saving ings / GDP GDP 23.2% 2% 22.4% 4% 25.2% 2% 23.1% 1% 22.8% 8% 20.2% 2% 18.2% 2% 18.1%* 1%*

2.98 98 3.44 44 4.31 31 5.38 38 7.60 60 8.56 56 10.26 6 13.71 1 13.22 2 12.46 6 13.08 8 2.47 47 3.13 13 4.38 38 5.80 80 5.71 71 7.75 75 7.74 74 6.43 43 6.94 8.19 19 9.59 59 5 10 10 15 15 20 20 25 25 Rs s trillion illion

Phy hysic ical al saving avings Fina inanc ncia ial sa l savin ings

*Co Comp mpany any estim imat ate

10

SLIDE 11

11.4% 4% 8.4% 7.2% 3.6% 3.0% 2.6% 1.7% 1.1%

0% 0% 3% 3% 6% 6% 9% 9% 12% S.Afr frica Japan Kor Korea Th Thaila iland nd US US Ind India ia Ch China ina Ind Indon

• nesia

sia

Penet netration ration (Premiu ium / / GDP)2

270% 270% 260% 260% 226% 226% 166% 166% 149% 149% 106% 106% 96% 96% 60% 60% 0% 0% 50% 50% 100% 100% 150% 150% 200% 200% 250% 250% 300% 300%

US US Jap apan an Singa ingapor pore Kor Korea Ma Mala laysia sia Germa many ny Th Thaila iland nd Ind India ia

Sum Assure sured d as % o

• f GDP 3

Sh Shar are e of ins nsur urance ance in n fina nanc ncial ial sav aving ngs s expecte ected to rise se

1.

• 1. Source:

: Reserve rve Bank nk of India ia 2.

• 2. Source:

: Swiss ss Re - World ld insur uranc ance in 2014 2014 3.

• 3. Source:

: McKinsey Kinsey analysis lysis 2013

11

14.4% 22.0% 26.2% 19.5% 21.0% 17.8% 16.0% 19.0%

0% 0% 20 20% 40 40% 60 60% 80 80% 10 100% 0% FY FY20 2002 02 FY FY20 2008 08 FY FY20 2010 10 FY FY20 2011 11 FY FY20 2012 12 FY FY20 2013 13 FY FY20 2014 14 FY FY20 2015 15 Distribut ribution ion of financ ancial ial assets ets1 Currency urrency & & Dep Deposits sits Life ife Insura nsuranc nce Fund e Fund Shares / res / Debent bentures ures / MFS MFS Pro Provid vident ent / / Pe Pension nsion Fun Fund / d / Cla Claims on ims on Govt vt

SLIDE 12

Indust stry ry over ervie view w Outlook

• k

Agend enda

Company any st strategy tegy and per erformanc rmance

12

SLIDE 13

Susta taina inability ility

 Impro

prove ve cost t effic ficie iency ncy

 Better

ter persis ersiste tency ncy and nd surrender rrender contro ntrol

 Rob

• bus

ust t risk k manageme nagement nt and d control ntrol pro rocess cess Custom tomer r centr tricity icity

 Super

uperior ior value lue to custo tomer mers s throu rough gh better tter prod roduc ucts ts

 Super

uperior ior risk k adj djusted usted fund nd perfo erforma rmance nce

 Smooth

mooth on- boa

• arding

ing and d serv rvice ice exper xperience ience Distr tribution ibution

 Multi

ti-chan channel nel app pproach ach

 Micro

ro market ket stra rategie tegies lead eading ng to Geogr

• graph

aphic ic leader adership ship

 Digita

gital pla latfo form m to expa xpand nd distri stributio ution n capa pacity city and d impro prove ve prod roduc uctivity tivity

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

• fitable

itable grow

• wth

13

SLIDE 14

Premium emium summary mary

83.19 19 153.07 3.07 124.29 4.29

14

61.34 34 135.38 5.38 34.20 20 34.32 32 48.21 21 80.55 55 81.00 00 95.71 71 20.63 63 8.97 97 9.14 14 20 20 40 40 60 60 80 80 10 100 12 120 14 140 16 160 FY20 FY2013 13 FY20 FY2014 14 FY20 FY2015 15 Rs bn bn 18.45 45 22.38 38 37.34 34 47.53 53 5.55 55 13.28 28 20 20 40 40 60 60 80 80 10 100 12 120 14 140 16 160 H1FY2 1FY201 015 H1FY2 1FY201 016 Rs bn Ret Retai ail n l new busi usiness ness pre remium mium Ret Retai ail re l renewal newal pre remium mium Gro Group up prem remium ium

SLIDE 15

Co Consi sistentl stently y ou

• utpe

performing forming indu dust stry ry grow

• wth1
• 1. Retai

ail l weig ighted ted receive ived premi mium um (RWR WRP) ) basis is Sourc rce: e: IRDAI, DAI, Life e insur uranc ance counc ncil il

15

17.5% 5%

• 1.7%

7% 41.3% 3% 1.9% 9%

• 3.4%

4% 15.9% 9%

• 1.9%

9%

• 3.4%

4%

• 10.3%

0.3%

• 2
• 20%

0%

• 1
• 10%

0% 0% 0% 10 10% 20 20% 30 30% 40 40% 50 50% FY20 FY2013 13 FY20 FY2014 14 FY20 FY2015 15 IC ICIC ICI Prud I Prudenti ntial al Priv ivat ate play ayers In Industr try 28.9% 9% 21.2% 2% 8.8% 8% 15.2% 2%

• 10.5%

0.5% 0.4% 4%

• 2
• 20%

0%

• 1
• 10%

0% 0% 0% 10 10% 20 20% 30 30% 40 40% 50 50%

H1FY FY2015 H1FY FY2016

SLIDE 16

Gaining ning market ket share re1

• 1. Retai

ail l weig ighted ted receive ived premi mium um (RWR WRP) ) basis is Source: : IRDA DAI, I, Life insuranc urance counc ncil il

16

7.0% 0% 7.2% 2% 11.3% 3% 18.5% 5% 18.9% 9% 23.0% 0% 0% 0% 5% 5% 10 10% 15 15% 20 20% 25 25% 30 30% FY20 FY2013 13 FY20 FY2014 14 FY20 FY2015 15 10.3% 3% 12.4% 4% 23.6% 6% 24.8% 8% 0% 0% 5% 5% 10 10% 15 15% 20 20% 25 25% 30 30% H1FY2 1FY201 015 H1FY2 1FY201 016 Wi Within t thin total al ind industr ustry Wi Within p thin priv ivate s ate secto tor

SLIDE 17

Consi nsisten stent leadership dership1

1 3 4 5 2 FY2006 FY2013 6 FY2014

• 1. Retai

ail l weig ighted ted receive ived premi mium um (RWR WRP) ) basis is

FY2002 FY2010 FY201 015 H1FY20 Y2016

17

SLIDE 18

Product duct strategy ategy

 Custom

tomer er centric ric product t design

 Offer

r superior rior IRRs s to customer, er, IRR R increa eases es with tenure re

 Produc

ucts ts for every ry life e stage ge & income e segm gment nt

 Increase

reased focus s on protection tion

 Credit

it life

 At

Attachment nt with our savings gs produc ucts s and partner er produc ucts ts

 Health

th

 From products

cts to iSolut utions ions

 Combini

ning g produc ucts s to create e customized ized solution tions

18

SLIDE 19

Product duct strategy ategy

Savings ngs Characterist acteristics Strat ategy gy Linke ked Transp nsparent arent; low charge ges; s; choice ce of asse set t class ss; no lapse se risk sk for custo tome mers Core product uct offering; ng; funds across cross asse set t class sses and option for capita tal prote tecti ction n to cater custom tomers s with h diffe ferent nt risk sk appetite tite Par Upside de based ed on fund perfo forman ance ce; 90% of surplus plus shared with th custo tome mers s as bonus Allow product ct mix x to float at betw tween n par and linke nked d based on customer

• mer

prefe ference nce Non-Par ar savings ngs Guar aranteed nteed ret eturn urns; s; high gh lapse se risk sk for custome tomers Not an area a of focus s current ntly Prote tecti tion

• n

Busines iness s envi vironme nment nt Strat ategy gy Term m Low penet netrat ation Grow

• w at 2x-3x of company’s overall

grow

• wth

th Heal alth th Regula gulator tory y change ges s like kely y to crea eate te leve vel playin ying g field eld vis-a-vis vis P&C player yers Eme merging ng focus s area ea; growt

• wth

dependen ndent t on evolving ving environme

• nment

nt

19

SLIDE 20

Product duct mix

• 1. Retai

ail l weig ighted ted receive ived premi mium um (RWR WRP) ) basis is

20

18.04 04 21.62 62 38.95 95 15.07 07 10.91 91 7.01 01 10 10 20 20 30 30 40 40 50 50 FY20 FY2013 13 FY20 FY2014 14 FY20 FY2015 15 Rs bn

Product duct mix1 FY2013 FY2014 FY2015 H1FY20 Y2015 H1FY20 Y2016 Linked 54.5% 66.5% 84.8% 81.8% 85.6% Non Linked 45.5% 33.5% 15.2% 18.2% 14.4%

14.29 29 18.12 12 3.17 17 3.06 06 10 10 20 20 30 30 40 40 H1FY2 1FY201 015 H1FY2 1FY201 016 Rs bn Lin inked Non Non Linked

 Pro

rotec tection tion APE increased creased from

• m Rs 0.29 bn in H1FY2

Y2015 015 to Rs 0.49 bn in H1FY2 Y2016 016

SLIDE 21

Channe nnel l mix

• 1. Retai

ail l weig ighted ted receive ived premi mium um (RWR WRP) ) basis is

21

11.73 73 9.43 43 11.51 51 14.87 87 17.77 77 27.19 19 4.34 34 3.12 12 3.16 16 2.16 16 2.21 21 4.09 09 10 10 20 20 30 30 40 40 50 50 FY20 FY2013 13 FY20 FY2014 14 FY20 FY2015 15 Rs bn

Channe nel l Mix1 FY2013 FY2014 FY2015 H1FY20 Y2015 H1FY20 Y2016 Agency cy 35.4% 29.0% 25.0% 22.5% 21.1% Banca cassu surance rance 44.9% 54.6% 59.2% 61.8% 62.8% Corporat

• rate agents and brokers

rs 13.1% 9.6% 6.9% 6.9% 6.7% Di Direct 6.5% 6.8% 8.9% 8.8% 9.4%

3.93 93 4.47 47 10.80 80 13.30 30 1.21 21 1.43 43

1.54 1.99

10 10 20 20 30 30 40 40 H1FY2 1FY201 015 H1FY2 1FY201 016 Rs bn Ag Agency Ban Bancas assuranc urance Corp rporate ate ag agents nts and and broke rokers Dir Direct

SLIDE 22

Post st sales les

 Enable

ble anytime, e, anywhere here ser ervicing vicing

 View

ew and update e policy cy detai ails s and execute ecute payme ments ts

 Ease

se of upsel ell throu

• ugh

gh pre- approv

• ved

ed additi tion

• nal

al cover er

 Ease

se of self- ser ervicing vicing for employ ployee ee / agent nt

Pre e sales les

 Structur

ctured ed sales es approac

• ach

h and need ed analysis sis

 Product

ct litera teratur ture in 12 langu guag ages es to aid sale les

 Standar

ardiz dized ed conte tent t inclu cluding ding videos eos to enable ble consis isten tent t mess ssag aging ng

 Integrat

egrated with th lead ad manageme agement nt sys ystem tem

Fulfilme lfilment nt

 Intuitiv

tive, e, easy y to use app form m with th data pre e populat ation

 eKYC – no doc

req equired uired for exist sting ng ICICI Bank, , ICICI Life fe custo tome mers s and Aadhar ar card holders ders

 Ease

se of scanning ning and uploading ding doc doc

 Instan

ant t underwriti ting ng

 Support

t multiple tiple Online ne payme ment t

• ptions
• ns

Lev everagi eraging ng tec echnolo

• logy

gy acr cros

• ss

s value ue ch chain

Issuan ance ce and delive very y of e-po policy cy withi thin 2 hours

22

SLIDE 23

Di Digitizatio gitization n impact act

Emplo loyee product uctiv ivity ty3

3

E-Login in1

1 and onli

line ne renewal al payment ment2

1. 1. New business iness applic licatio ations ns gener nerate ated throug ugh h digital ital medium ium 2. 2. Transac nsactio tions ns process ssed throug ugh websi site, SMS and IVRS 3. 3. RWR WRP / Averag age no. of emplo loye yees s during ng the perio iod

23 52% 52% 80% 80% 93% 93% 20% 20% 42% 42% 50% 50% 0% 0% 20 20% 40 40% 60 60% 80 80% 10 100% 0% FY FY20 2013 13 FY FY20 2014 14 FY FY20 2015 15 E-Log

• gin

in Onlin Online ren e renewal pay ewal payme ment nt 92% 92% 95% 95% 45% 45% 59% 59% 0% 0% 20 20% 40% 60 60% 80 80% 10 100% 0% H1FY FY20 2015 H1FY FY20 2016 2.55 2.77 4.26 0.0 0.00 1.0 1.00 2.0 2.00 3.0 3.00 4.0 4.00 5.0 5.00 FY FY20 2013 13 FY FY20 2014 14 FY FY20 2015 15 Rs millio lion 1.58 1.82 0.0 0.00 1.0 1.00 2.0 2.00 3.0 3.00 4.0 4.00 5.0 5.00 H1FY FY20 2015 H1FY FY20 2016 Rs million lion

SLIDE 24

Cost t efficiency ficiency

• 1. All

l insuranc rance expenses nses includ luding ing comm mmiss issio ion n / Retail ail weig ighted hted receive ived premium mium

• 2. Expense

nse ratio: : All insur suranc ance expenses nses (excl.

• l. comm

mmiss issio ion) / (Total al premium mium – 90% of sing ngle le premium ium)

• 3. Comm

mmiss issio ion n ratio: : Commiss issio ion n / (Total al premium mium – 90 90% of sing ngle le premium mium)

• 4. Total

al Expense nse ratio io: : Cost st / (Total tal premium mium – 90% of sing ngle le premi mium um)

• 5. Annualiz

ualized cost t / Averag rage assets ts under manag nageme ment nt held during ng the perio iod

Rs b bn FY2013 FY2014 FY2015 H1FY20 Y2015 H1FY20 Y2016 Cost to to RWRP1 75.4% 69.3% 49.1% 57.9% 56.6% Expens nse ratio (excl cl. . commissio ssion) n)2 13.3% 13.6% 11.7% 13.8% 13.2% Commissio ion n ratio3 5.9% 5.2% 3.8% 4.0% 3.5% Total l expense ratio4 19.2% 18.8% 15.4% 17.8% 16.7% Cost / A Averag age AUM5 3.4% 2.9% 2.5% 2.4% 2.4%

24

17.31 31 16.28 28 17.05 05 7.65 65 6.27 27 5.53 53 5 10 10 15 15 20 20 25 25 30 30 FY20 FY2013 13 FY20 FY2014 14 FY20 FY2015 15 Rs bn Non- Non-Commis missio ion Commis mission 24.96 96 22.55 55 22.58 58 10.12 12 11.99 99 7.87 87 9.45 45 2.25 25 2.54 54 5 10 10 15 15 20 20 25 25 30 30 H1FY2 1FY201 015 H1FY2 1FY201 016 Rs bn

SLIDE 25

Persistency sistency1

1. 1.As per IRDA DA circular ular IRDA DA/ACT CT/CIR CIR/035 035/01/ 01/201 2014 4 dated Januar nuary y 23, 2014 2014

25

71.5% 5% 79.0% 0% 20.3% 3% 54.4% 4% 0% 0% 20 20% 40 40% 60 60% 80 80% 10 100% 0% FY20 Y2014 14 FY20 Y2015 15 13 13th th mo month nth 49 49th th mo month nth 74.4% 4% 80.4% 4% 20.7% 7% 62.2% 2% 0% 0% 20 20% 40 40% 60 60% 80 80% 10 100% 0% H1FY2 1FY201 015 H1FY2 1FY201 016

SLIDE 26

Surrender render

1.

• 1. Averag

rage monthly thly retail il surrend renders rs

Surrende enders rs1

1 as % o

• f average

ge AUM

26

1.3% 3% 1.1% 1% 0.9% 9% 0.0% 0.0% 0.2% 0.2% 0.4% 0.4% 0.6% 0.6% 0.8% 0.8% 1.0% 1.0% 1.2% 1.2% 1.4% 1.4% FY20 Y2013 13 FY20 Y2014 14 FY20 Y2015 15 1.0% 0% 0.6% 6% 0.0% 0.0% 0.2% 0.2% 0.4% 0.4% 0.6% 0.6% 0.8% 0.8% 1.0% 1.0% 1.2% 1.2% 1.4% 1.4% H1FY2 1FY201 015 H1FY2 1FY201 016

SLIDE 27

364. 4.10 10 423. 3.71 71 520. 0.97 97 377. 7.54 54 382. 2.26 26 480. 0.86 86 200 200 400 400 600 600 800 800 1, 1,000 000 1, 1,200 200 FY20 2013 13 FY20 2014 14 FY20 2015 15

27 27

Asset sets s under er manage gement ment

Among

• ng the

e large rgest t fund nd managers nagers in India dia

805.97 97 1,001.83 01.83 741.64 64 575.21 603.10 747.78 166.43 202.86 254.06 200 200 400 400 600 600 800 800 1, 1,000 000 1, 1,200 200 FY20 2013 13 FY20 2014 14 FY20 2015 15 805.97 97 1,001.83 01.83 741.64 64 907.26 26 991.27 27

Link nked Mix (%) %)

75.1 73.8 77.6 74.8 74.6

Equi uity ty Mix (%) )

48.9 46.5 50.9 47.4 48.0

Rs bn Rs bn Rs bn Rs bn

27

681.39 39 731.07 07 225.87 87 260.21 21 200 200 400 400 600 600 800 800 1, 1,000 000 1, 1,200 200 H1FY201 2015 H1FY201 2016

Lin inked ed Oth Other t er than han lin linke ked

907.26 26 991.27 27 463.40 40 530.74 74 443.86 86 460.53 53 200 200 400 400 600 600 800 800 1, 1,000 000 1, 1,200 200 H1FY201 2015 H1FY201 2016

Debt Debt Equit uity

SLIDE 28

Maximi ximiser ser (Equity uity Fund) Balanc lancer (Bala alanc nced fund) Protecto tor (Debt t fund) Preser serve ver r (Short t term m debt t fund)

Super erior ior fund d perfor formance mance acros

• ss

s cycle cles

 Multi

ti-ti tiere ered investment vestment manageme nagement nt struc uctur ture e with h clearly early define fined rol

• les

es and nd responsib sponsibilit lities es

 96%

96% of funds nds have ve outper tperfor formed med benc enchma hmark rk since ce incep ception* tion*

 Over

ver 90% % of debt ebt investme vestments nts in AAA A rated ted and d gov

• ver

ernm nment ent bond

• nds

Inceptio tion n Dates: tes: Preser serve ver r Fund: : June ne 28, 2004; 4; Protecto tor Fund nd: April il 2, 2002 Balanc lancer er Fund nd : April il 2, 2002; 2; Maximis imiser er Fund nd: Nov 19, 2001 * As on September 30, 2015

28

1.3% 8.6% 18.6% 8.6% 9.2% 11.9% 14.3% 10.2% 7.7% 8.5% 8.9% 8.2% 0.8% 5.6% 16.0% 8.6% 7.8% 10.5% 12.6% 8.5% 6.8% 8.6% 8.6% 7.1%

L1Y L5Y Since Inception L1Y L5Y Since Inception L1Y L5Y Since Inception L1Y L5Y Since Inception

Fund Benchmark

SLIDE 29

Profitab fitable le grow

• wth

th

14.96 15.67 16.34 3 6 9 12 12 15 15 18 18

FY20 2013 13 FY20 2014 14 FY20 2015 15

4.84 10.93 8.37 2 4 6 8 10 10 12 12 FY FY20 2013 13 FY FY20 2014 14 FY FY20 2015 15 396 396 Solve venc ncy y Ratio io (%) Profit it after er tax ax (Rs bn) 357 357 328 328 372 372 337 337 31.2 32.6 33.7 32.7 33.9

1. 1.Based sed on invest sted capital ital

Dividend idend (Rs s bn) RoE1

1 (%)

Sustai ained ned and strong ng profita fitabilit bility Best st positi tion

• ned

ed to capita talize ze on growt

• wth opportu

tunit nity

29 7.81 8.12 3 6 9 12 12 15 15 18 18

H1FY201 2015 H1FY201 2016

5.36 6.01 2 4 6 8 10 10 12 12

H1FY201 2015 H1FY201 2016

SLIDE 30

Ne New Busi siness ness Profit fit1

• 1. Indian

ian Embedded Value ue basis is

• 2. Based

sed on long ng term m assum umptio tions ns

Rs billion

• n

FY2015 15 H1FY20 2016 16 APE 47.44 22.34 New Busines ness s Profit t on targe get t acquisiti sition

• n cost2

6.43 3.08 New Busines ness s Margi gin on target get acquisi sitio tion n cost 13.6% 13.8% New Busines ness s Profit t on actual al acquisi sitio tion n cost2 2.70 1.47 New Busines ness s Margi gin on actual al acquisitio sition cost 5.7% 6.6%

30

SLIDE 31

Summar ary

1.

• 1. Sum assur

ured d as a % % of GDP 2.

• 2. Premium

um per capita 3.

• 3. IRDAI

I Retail ail Weight ghted d Rece ceived ved Premium (RWRP) P) 4.

• 4. RWRP ratio
• of ICICI

CI Prude dentia ntial to nearest st compe petitor

• r

5.

• 5. Based

ed on inves ested ed capita ital l 

Low penet etrat ation ion1

1 and even

n lower densit sity2



One of the he last emergin ing market ets s with signif nific icant ant scale le and favour

• urab

able le growth h drivers ers India: ia: High h growth potent ential ial 1



#1 in India ia on RWRP RP3 basis is for every y year since e FY200 002



Distanc stance e increas eased ed from 1.04x 4x in FY2012 12 to 1.47x 7x 4 in FY201 015 Consisten sistent Lead ader ersh ship ip Across ss Cycles es 2



Revolut

• lutioniz

ionizing ing custom stomer er experienc erience e across ss value ue chain in throu

• ugh

gh digit itizat ization ion



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 stomer er Centric tric 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 advanc anced ed digit ital al processe sses 4



Very low regulat latory ry or inter teres est rate e risk k with th over 80% of RWRP RP cont ntrib ibut utio ion n from ULIP produc ucts; s; Over 90% of debt inve vestment stments s in AAA rated ed and governm rnmen ent bonds ds



Focus us on reduc ucin ing g costs s - Cost/RW /RWRP declined lined from 84.8% 8% in FY201 012 2 to 49.1% in FY20 2015 15



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



RoE 5 of more than han 30% sinc nce e FY201 012; 2; Self lf funded nded busin iness ess – no capit ital al calls ls sinc nce e FY 2009; ; cumulat ulative ive divid iden end pay-out

• ut of Rs 34.29

9 bn till l H1FY20 2016 16



With th stro rong ng solvency ency of 328% and less s capital ital requir uirem emen ent t 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 31

SLIDE 32

Safe fe harbor rbor

Exc Excep ept for for th the hi histor torica ical in infor forma mati tion

• n co

contai ntained ed her erein in, stat tateme ments ts in in th this is re releas ease wh which ich contai contain words

• rds or
• r phr

phrase ases su such ch as as 'wil will' l', 'would' would', ‘indicating’, ‘expected to’ etc tc., and and si simi mila lar expr expres essi sions

• ns or
• r variat

variation ions of

• f such

uch expr expressi sion

• ns ma

may con const stit itute 'f 'forward

• rward-loo

looking ng stat tatemen ents' s'. Th These forwa forward rd-look

• okin

ing sta tateme ment nts in invol volve a num umber er

• f
• f ris

isks, uncer ncertain tainti ties and and other ther fa factor ctors tha that coul could ca caus use ac actual tual res esult lts to to dif differ er mat ater eriall ially fro from tho hose su sugg ggest sted ed by by th the for forwa ward-lo look

• kin

ing stat tatem ements

• ts. The

hese ris isks and and un uncer ertai taint ntie ies includ nclude, e, bu but ar are no not li limi mited ed to to our ur abi abili lity ty to to succ uccessf ssful ully ly imp mplemen ent our

• ur stra

trateg egy, y, our

• ur gro

growth wth and and expa expans nsion ion in in bu busi siness, s, th the impact mpact of

• f any

any ac acqui quisi siti tions ns, techno echnologi logica cal imp mple lemen enta tati tion

• n and

nd cha chang nges, the he ac actual ual gro growth wth in in demand mand for for in insur uranc ance prod product ucts and and ser ervi vices es, in invest stmen ent in inco come, e, ca cash sh flow flow pro projecti ections

• ns, our
• ur ex

expos posur ure to to mark arket ri risks, s, po poli lici cies and and ac acti tion

• ns of
• f regu

egulator latory au autho thori riti ties; impact mpact of

• f com

compet etiti tion

• n; exp

exper erien ence wi with th rega gard rd to to mor mortali tality and and morb

• rbidi

idity tr tren ends ds, laps lapse rat rates and and pol policy icy ren enewal ewal rat rates; th the im impac pact of

• f cha

change nges in in ca capi pital tal , solv solven ency or

• r ac

accoun countin ing st stan andards dards , tax tax and and oth ther er leg egis islati lations

• ns and

and regu egulati lations

• ns in

in the the ju juri risdi sdicti tions ns as as well ll as as oth ther er ri risks detail tailed ed in in th the repo eports ts fil filed ed by by ICI CICI CI Bank Bank Li Limit ited, our

• ur ho

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 Commi

• mmission
• ssion. IC

ICIC ICI Ban Bank and and we we un under erta take no no ob

• bli

liga gati tion

• n to

to upda update te forward

• rward-lo

look

• kin

ing stat tatemen ents ts to to refl flec ect even ents or

• r circum

circumstanc tances es af after er th the da date te thereof.

32

SLIDE 33

Thank k you

33