India Life Insurance - Annual Premium Equivalent Growth Remains Strong In July: ICICI Securities
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ICICI Securities Report
Total private life insurer annual premium equivalent has grown by 28% / 25% YoY in FY22-to-date / July 2021.
Strong growth in total APE was led by SBI Life Insurance Company Ltd. (36% YoY) followed by Bajaj Allianz Life Insurance (30% YoY), ICICI Prudential Life Insurance Company Ltd. (29%) HDFC Life Insurance Company Ltd. (16% YoY) and Max Life (15% YoY) in July-21.
Individual private Insurer APE has grown 27.8% / 30% YoY in FY22-to-date / July-21.
Total private insurer sum assured grew 12% YoY in July-21 led by 26% growth in group sum assured and 9% decline in Individual sum assured.
FY22 to-date total / individual / group sum assured has grown 28% / (down)14% / 86%.
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