Life insurance - Premium Growth Remains Strong In Dec; SBI Life Continues To Lead: ICICI Securities
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Premium growth remains strong for life insurers. This is especially true for private insurers who clocked an annual premium equivalent of Rs 80 billion in December 2021, the highest in December of any year and bettered only by a seasonally stronger March 2021.
During nine months-FY22, individual APE growth has been strong for Bajaj Allianz (58%), SBI Life Insurance Company Ltd. (38%), ICICI Prudential Life Insurance Company Ltd. (28%), HDFC Life Insurance Company Ltd. (21%) and Max Life (23%).
Total private life insurers’ individual APE grew by 30% in 9MFY22.
In 9MFY22, we have seen 4.4% and 9.7% growth in number of policies for private players and LIC respectively. SBI Life maintains leadership with its number of policies growing by 20% in 9MFY22.
Click on the attachment to read the full report:
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.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.