Bancassurance slowdown hits HDFC Life, ICICI Pru as banks recalibrate insurance sales
Systematix Research said in a post-earnings note that distribution remained subdued and growth was flat from a year earlier “due to softer volumes at the overall parent bank level”. The non-HDFC Bank bancassurance channel, however, reported approximately 15% growth, “reflecting improving competitive dynamics across other partner banks,” it said.
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