BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Max Financial Services Ltd. reported a 24% YoY growth in of new business, led by annual premium equivalent growth of 15% and a 140 basis points improvement in VNB margin.
Within segments, non-PAR continues to see strong momentum, led by the annuity business. Other products, except retail term, saw a healthy traction.
In Q1 FY23, the proprietary channel grew 32% YoY and now contribute 34% (up 400 bps YoY) of overall APE. On the other hand, the banca channel grew at a mere 8% YoY and dragged overall APE growth. This is due to true adoption of open architecture at Axis Bank Ltd. and Yes Bank Ltd. and a high base of last year.
Max Financial's management said it will take an additional two more quarters for the base to settle down.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR