FORM L-22 Analytical Ratios*

IndiaFirst Life Insurance Company Limited For the Quarter Ending 31 December 2021
Analytical Ratios for Life Companies
Sl. Quarter ended Period ended Quarter ended Period ended
No Particular 31 December 31 December 31 December 31 December
. 2021 2021 2020 2020'
1 New Business Premium Growth Rate (Segment wise)
(i) Linked Business:
a) Life 154.78% 109.25% 11.37% (30.83%)
b) Pension NA NA NA (100.00%)
c) Health NA NA NA NA
d) Variable Insurance NA NA NA NA
(ii) Non-Linked Business:
Participating:
a) Life 1.29% 3.47% (32.18%) (18.68%)
b) Annuity NA NA NA NA
c) Pension 5.13% (72.85%) 101.01% 581.53%
d) Health NA NA NA NA
e) Variable Insurance 73.01% 104.32% 1.79% (40.19%)
Non Participating:
a) Life 59.35% 87.55% 79.04% 29.74%
b) Annuity 262.29% 384.68% 140.02% 121.17%
c) Pension 8.54% -59.69% 3365.13% 2300.81%
d) Health 283.56% 321.70% 3.96% 47.92%
e) Variable Insurance (45.94%) (63.74%) (19.92%) (71.66%)
2 Percentage of Single Premium (Individual Business) to Total New Business Premium (Individual Business) 7.90% 6.81% 4.77% 3.92%
Percentage of Linked New Business Premium (Individual Business) to Total New Business Premium (Individual
3 29.55% 27.78% 18.60% 22.31%
Business)
4 Net Retention Ratio 96.78% 95.65% 95.18% 95.84%
5 Conservation Ratio (Segment wise)
(i) Linked Business:
a) Life 82.23% 85.95% 88.84% 87.33%
b) Pension 85.19% 86.06% 102.31% 96.24%
c) Health NA NA NA NA
d) Variable Insurance NA NA NA NA
(ii) Non-Linked Business:
Participating:
a) Life 85.04% 86.17% 85.39% 82.30%
b) Annuity NA NA NA NA
c) Pension 83.92% 84.88% 94.45% 92.94%
d) Health NA NA NA NA
e) Variable Insurance NA NA NA NA
Non Participating:
a) Life 81.54% 83.52% 85.22% 83.61%
b) Annuity NA NA NA NA
c) Pension NA NA NA NA
d) Health 0.00% 35.73% 9.58% 19.59%
e) Variable Insurance 74.02% 85.91% 85.40% 85.50%
6 Expense of Management to Gross Direct Premium Ratio 17.36% 18.46% 18.70% 17.98%
7 Commission Ratio (Gross commission and Rewards paid to Gross Premium) 5.16% 4.84% 4.91% 4.03%
8 Business Development and Sales Promotion Expenses to New Business Premium 6.14% 5.50% 4.92% 3.74%
9 Brand/Trade Mark usage fee/charges to New Business Premium 0.04% 0.05% 0.06% 0.06%
10 Ratio of Policyholders' Fund to Shareholders' funds 3331.37% 3331.37% 2199.07% 2199.07%
11 Change in net worth (Amount in Rs. Lakhs) (18,326.82) (18,326.82) 116.50 116.50
12 Growth in Networth (26.15%) (26.15%) 0.17% 0.17%
13 Ratio of Surplus to Policyholders' Fund 0.00 0.02 0.00 0.01
14 Profit after tax / Total Income (1.13%) (5.31%) 0.14% (0.97%)
15 (Total Real Estate + Loans)/(Cash & Invested Assets) 0.11 0.11 0.08 0.08
16 Total Investments/(Capital + Reserves and Surplus) 18.77 18.77 16.95 16.95
17 Total Affiliated Investments/(Capital+ Reserves and Surplus) 9.57% 9.57% 2.50% 2.50%
18 Investment Yield - (Gross and Net)
A. Without Unrealised Gain
Shareholder's Fund 9.84% 8.82% 13.94% 9.88%
Policholder's Fund
Non Linked
Par 7.59% 7.67% 7.68% 7.67%
Non Par 7.56% 8.80% 7.53% 8.55%
Linked
Non Par 11.99% 16.79% 18.01% 7.67%
B. With Unrealised Gain
Shareholder's Fund 9.70% 8.35% 17.80% 14.07%
Policholder's Fund
Non Linked
Par 2.18% 5.85% 14.86% 11.60%
Non Par 2.33% 5.77% 13.06% 10.84%
Linked
Non Par (4.29%) 16.68% 76.37% 47.55%
19 Persistency Ratio - Premium Basis ( Regular Premium/Limited Premium Payment under Individual category) 1

For 13th month 79.31% 81.13% 76.31% 77.29%

For 25th month 68.06% 68.94% 62.42% 65.93%
For 37th month 58.21% 61.44% 55.90% 61.25%
For 49th Month 52.77% 57.92% 54.72% 57.68%
for 61st month 35.07% 40.25% 41.70% 42.10%
Persistency Ratio - Premium Basis ( Single Premium/Fully paid-up under Individual category) 1
For 13th month 100.00% 100.00% 99.99% 99.96%
For 25th month 100.00% 99.96% 99.99% 99.92%
For 37th month 99.97% 99.90% 99.95% 99.98%
For 49th Month 99.93% 99.97% 100.00% 100.00%
for 61st month 98.03% 90.49% 87.39% 88.86%
1
Persistency Ratio - Number of Policy Basis ( Regular Premium/Limited Premium Payment under Individual category)

For 13th month 66.84% 70.70% 66.27% 69.92%

For 25th month 57.76% 60.11% 55.02% 57.23%
For 37th month 48.77% 50.12% 46.70% 51.27%
For 49th Month 41.47% 46.58% 43.28% 38.33%
for 61st month 32.47% 37.61% 36.47% 38.33%
Persistency Ratio - Number of Policy Basis ( Single Premium/Fully paid-up under Individual category) 1

For 13th month 100.00% 99.91% 99.86% 99.93%

For 25th month 99.96% 99.91% 99.85% 99.79%
For 37th month 99.71% 99.78% 99.91% 99.91%
For 49th Month 99.51% 99.72% 100.00% 100.00%
for 61st month 95.00% 90.72% 88.89% 87.69%
20 NPA Ratio
Policyholders' Funds
Gross NPA Ratio (0.01%) (0.01%) 1.92% 1.92%
Net NPA Ratio 0.00% 0.00% 0.00% 0.00%
Shareholders' Funds
Gross NPA Ratio (0.43%) (0.43%) 8.99% 8.99%
Net NPA Ratio 0.00% 0.00% 0.00% 0.00%
21 Solvency Ratio 1.61 1.61 1.67 1.67
22 Debt Equity Ratio 0.19 0.19 0.14 0.14
23 Debt Service Coverage Ratio2 (0.15) (2.36) 0.05 (0.36)
24 Interest Service Coverage Ratio3 (7.16) (38.89) 2.22 (5.97)
25 Average ticket size in Rs. - Individual premium (Non-Single) 51,036.50 49,696.28 45,900.65 41,556.80
Equity Holding Pattern for Life Insurers and information on earnings:
1 No. of shares 663461539 663461539 663461539 663461539
Percentage of shareholding
2 Indian 74.00% 74.00% 74.00% 74.00%
Foreign 26.00% 26.00% 26.00% 26.00%
3 Percentage of Government holding (in case of public sector insurance companies) 74.00% 74.00% 74.00% 74.00%
4 Basic EPS before extraordinary items (net of tax expense) for the period (not to be annualized) (0.27) (3.88) 0.04 (0.68)
5 Diluted EPS before extraordinary items (net of tax expense) for the period (not to be annualized) (0.27) (3.88) 0.04 (0.68)
6 Basic EPS after extraordinary items (net of tax expense) for the period (not to be annualized) (0.27) (3.88) 0.04 (0.68)
7 Diluted EPS after extraordinary items (net of tax expense) for the period (not to be annualized) (0.27) (3.88) 0.04 (0.68)
8 Book value per share (Rs) 7.80 7.80 10.56 10.56
*The ratios must be calculated in accordance with instructions provided in the annexure and the annexure need not be the part of public disclsoures
NOTES:
1. Persistency ratios for the quarter end have been calculated for the policies issued in the relevant period. For instance,
a. 13th month persistency for quarter ended December 31, 2021 is calculated for policies issued from October 1, 2020 to December 31, 2020.
b. 13th month persistency for quarter ended December 31, 2020 is calculated for policies issued from October 1, 2019 to December 30, 2019
The corresponding figures for and upto the quarter of the previous years have been computed as on 31st January 2021.
2. Debt Service Coverage Ratio - (Earnings before Interest and Tax/ Interest Interest charge on borrowings and Principal Instalments Due)
3. Interest Service Coverage Ratio - (Earnings before Interest and Tax/ Interest charge on borrowings)