India Life Insurance - Private Players’ Individual WRP Grows 29% In November: Motilal Oswal
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Motilal Oswal Report
Private players’ Individual weighted received premium grew 28.6% YoY in November 2021 (two-year compound annual growth rate of up 9.3%; up 23.4% in October 2021), while the industry posted a growth of 26% (two-year CAGR decline of down 8.1%; up 12.6% in Oct-21).
In FY22 year-to-date, private players’ Individual WRP grew 30.1% YoY. The same for the industry grew 19.4% YoY.
Among listed players, Max Life/SBI Life Insurance Company Ltd. posted a strong ~36%/30% YoY growth in Nov-21, while ICICI Prudential Life Insurance Company Ltd. posted a modest 13% YoY growth versus a decline of 31% YoY in Nov-20. HDFC Life Insurance Company Ltd. reported a muted growth of ~1.7% YoY.
Life Insurance Corporation of India reported a growth of 21.7% YoY (two-year CAGR of down 25.5%; down 1.9% in Oct-21) in Individual WRP.
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