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ICICI Prudential Life Insurance Company with: Australia

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Bank of America Merrill Lynch and Australian insurance group has a buy call on Prudential Life Insurance with a target price of $5.554. Right now the market price for Prudential Life Insurance is $4.48.

Time period is one year given by analyst, when Prudential Life Insurance price can reach the target. The company’s self course correction after the key sectoral regulatory changes have resulted in the return of growth.  Parent Bank’s gained a rise in own distribution has resulted in I-Pru’s growth model becoming more quality oriented. The investment bank pegs value at 3.1xFY18 embedded value (EV).  It also sees RoEV of 17 per cent, with a long-term growth of 10 per cent and a cost of equity of 12.3 per cent.