Investor Presentaiton
Analysis of movement in EV1
billion
Opening EV
FY2017
FY2018
FY2019
FY2020
FY2021
139.39
161.84
187.88
216.23
230.30
Unwind
12.21
13.72
15.84
17.25
16.61
Value of New Business (VNB)
6.66
12.86
13.28
16.05
16.21
Operating assumption changes + Operating variance
4.08
10.22
8.89
(0.42)
2.24
Operating assumption changes
1.00
7.64
4.20
(2.25)²
3.09
Operating variance
3.08
2.58
4.69
1.83
(0.85)
Persistency variance
0.99
1.53
2.66
0.85
1.10
Mortality and morbidity variance
Expense variance
Other variance
0.98
0.78
1.97
0.42
(2.37)³
0.35
0.27
0.04
0.01
0.01
0.76
0.00
0.02
0.56
0.41
EVOP
22.95
36.80
38.01
32.88
35.05
Return on embedded value (ROEV)
16.5%
22.7%
20.2%
15.2%
15.2%
Economic assumption change and investment variance
5.82
1.13
(1.22)
(14.76)
25.67
Net capital injection
(6.32)
Closing EV
161.84
(11.88)
187.88
(8.43)
(4.05)
0.04
216.23
230.30
291.06
ICICI PRUDENTIAL
1.
As per Indian Embedded Value (IEV) method
2.
Negative impact of 5.49 billion due to change in effective tax rate
3.
Mortality variance includes the negative impact of COVID claims of 2.64 billion net of reinsurance
LIFE INSURANCE
Components may not add up to the totals due to rounding off
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