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.
Yes Securities Report
SBI Life Insurance Company Ltd.'s calculated of new business margin for Q1 FY23 rose 340 basis points QoQ and 689 bps YoY to 30.3% (on effective tax rate basis).
VNB de-growth/growth was at –20.7%/131.6% QoQ/YoY where the robust YoY growth is due to low base effect.
New business annual premium equivalent de-growth/growth was at down 29.6%/79% QoQ/YoY dragged sequentially due to seasonality of business.
SBI Life's expense ratio increased 249/101 bps QoQ/YoY to 11.5%, QOQ driven by increase of 74 bps in commission ratio and 175 bps in opex ratio.
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