Anand Rathi: The Impact Of Covid-19 Eases For Life Insurers; Growth Recovery In July Due To Further Easing Of Restrictions
Indian rupee banknotes are counted in India. (Photographer: Dhiraj Singh/Bloomberg)

Anand Rathi: The Impact Of Covid-19 Eases For Life Insurers; Growth Recovery In July Due To Further Easing Of Restrictions

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Anand Rathi Report

With the government further easing restrictions across the country, the business recovery of life insurers continued.

New-business premiums of private sector companies rose 26% YoY; LIC slipped 1% YoY. At end-July 2020, total NBPs amounted to Rs 230 billion versus Rs 215 billion a year prior.

The annual premium equivalent for the private sector declined 3% YoY at end July 2020. That for LIC, the sole public entity, plummeted 48% YoY. At end-July 2020, total APE was Rs 77 billion versus Rs 116 billion a year prior.

In NBP, private insurers increased their market share from 21% in June 2020 to 34% in July 2020. In APE, private insurers’ saw a second consecutive monthly gain with market share at 47% in July 2020 (42% in June 2020, 32% in May 2020).

Click on the attachment to read the full report:

Anand Rathi BFSI Monthly Sector Update.pdf

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