Life Insurance - Robust Growth Continues In September; SBI Life, Bajaj Allianz Outperforms: ICICI Securities
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ICICI Securities Report
Private life insurers reported robust growth of 32%/35% in September 2021 in terms of total annual premium equivalent/individual APE.
This is noteworthy considering the high base of Sep 2020 unlike earlier months.
Between April-August 2020 individual APE ranged between Rs 10.5-32.3 billion and Sep-20 individual APE came in at Rs 38 billion which again fell to Rs 33 billion/34 billion in October / November 2020.
In terms of total APE, Bajaj Allianz Life Insurance reported highest growth of 85% YoY followed by Birla Sun Life Insurance (79%), SBI Life Insurance Company Ltd. (51%), ICICI Prudential Life Insurance Company Ltd. (45%) and HDFC Life Insurance Company Ltd. (27%) in Sep-21.
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