Insurance Sector Check - Life Insurers Now Better Prepared To Tackle Covid-19 Impact: ICICI Securities
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ICICI Securities Report
Unlike FY21, life insurers are now better placed to tackle the Covid-19 impact.
As such, life insurers witnessed strong YoY growth in April 2021 on the weak base of April 2020.
Total / individual annual premium equivalent grew 80% / 90% YoY in April-21.
In April-21, SBI Life Insurance Company Ltd. / Bajaj Allianz / ICICI Prudential Life Insurance Company Ltd. / HDFC Life Insurance Company Ltd., Max Life reported growth of 115% / 81% / 88% / 65% / 95% / 102% in terms of total APE and 263% / 92% / 65% / 75.4% / 96% / 121% in terms of individual APE, respectively.
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