Private Insurers’ Individual Weighted Received Premiums Grow 23% In February; LIC Reports 9% Growth: Motilal Oswal 

Private Insurers’ Individual Weighted Received Premiums Grows 23% In February; LIC Reports 9% Growth: Motilal Oswa

An insurance guide assists resident to sign up for a health insurance plan (Photographer Andrew Harrer/Bloomberg)

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Motilal Oswal Report

Private players’ Individual weighted received premium (WRP) saw a strong rebound (23% YoY) in February 2021 (versus 7% YoY in January 2021), while the industry posted a 17.8% YoY growth and Life Insurance Corporation of India grew at 9.4% YoY.

The rebound in private players continued, led by a focus on Non-participating, with Unit Linked Insurance Plans seeing a recovery.

In FY21 year-to-date, private players’ Individual WRP fell 1.6% YoY. The same for the industry fell 7.5% YoY.

We expect premium growth to rebound over FY22 after seeing tepid trends, with ULIP showing a revival. Players continue to focus strongly on Non-PAR and Protection segments.

Click on the attachment to read the full report:

Motilal Oswal Financials-Insurance Sector Update.pdf
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