Insurance - Health Remains Prime Mover In Non-Life While ULIPs Gain Life In Life Insurance: ICICI Securities
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ICICI Securities Report
Key segmental trends for non-life insurance are:
continued outperformance in health segment (led by standalone health insurance) and
lackluster motor gross direct premium income growth.
Basis FY22-to-date total GDPI (April-November 2021), market share improved for new India / go-digit / TATA AIA by 110 basis points / 80 bps / 13 bps to 15.4% / 1.9% / 4.3%, while ICICI Lombard General Insurance Company Ltd. market share declined 76 bps YoY to 8.3% over same period last year.
Within life insurance, unit linked insurance plan mix is on the rise while group segment continues to drive major sum assured growth.
However, SBI Life Insurance Company Ltd. has maintained healthy growth in retail sum assured in Nov-21-to-date.
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