India Life Insurance - Private Players' Individual WRP Grows 29% In December; LIC Grows By 6%: Motilal Oswal

India Life Insurance - Private Players' Individual WRP Grows 29% In December; LIC Grows By 6%: Motilal Oswal

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Motilal Oswal Report

Private players’ individual weighted received premium grew a strong 29.4% YoY in December 2021, while the industry posted a growth of 21.2%. In FY22-year-to-date, private players’ Individual WRP grew 30% YoY (two-year compound annual growth rate of up 10.6%). The same for the industry grew 19.7% YoY (two-year CAGR of up 5%).

Life Insurance Corporation of India reported a modest 6.2% YoY growth (two-year CAGR of 5.1%; up 21.7% in November 2021) in individual WRP. In FY22 year-to-date, Individual WRP grew 5.2% YoY (two-year CAGR of down 3.1%).

We have seen a healthy pickup in growth over the past few months with Dec-21 continuing to witness healthy trends across most segments. We expect premium growth to see strong traction over FY22E, with a continued focus on non participating/annuity, while unit linked insurance plan will witness a gradual recovery

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Motilal Oswal India Life Insurane Sector Update.pdf
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