Strong growth to support ICICI Pru Life valuations

ICICI Prudential Life Insurance Company (ICICI Pru) has multiple reasons to feel optimistic about. The company made best use of the opportunity thrown up by demonetisation and increased its market share in the private sector by 210 basis points to 27.2 per cent in November 2016 as compared to October 2016. It is amongst the few bank-led insurance companies that have managed to cash in on the higher footfalls in its bank branches in November. Even as the high growth in premiums in November (up 79 per cent y-o-y) may not be easy to replicate, growth is expected to remain