Life Insurance - First Year Premium Recorded A Dip Of 5.5% In May: CARE Ratings

Copies of the application for the Health Insurance (Photographer: Andrew Harrer/Bloomberg).

Life Insurance - First Year Premium Recorded A Dip Of 5.5% In May: CARE Ratings


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CARE Ratings Research Report

First year premium of life insurers witnessed a dip of 5.5% in May 2021 to Rs 12,977 crores to Rs 13,739 crores in May 2020 despite a low base and a national lock down.

The decrease in May’s first year premium has comes after a significant rise of 44% in April.

The fall can be attributed to the fall in non-single premiums for May 2021 and the second Covid-19 wave, along with the lockdown in major states.

On the other hand, the year-to-date numbers have reported a growth of 11% to Rs 22,715.8 crore for the two months ended May 2021 from Rs 20,466.8 crore for the two months ended May 2020, however it has yet to cross the pre pandemic levels of Rs 28,395.9 crore reported for the two months ended May 2019.

Click on the attachment to read the full report:

CARE Ratings Life Insurance Sector Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

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