Life Insurance Sector Check - FY21 Likely To End With Positive Growth: Prabhudas Lilladher
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Prabhudas Lilladher Report
Life insurance new business for February 2021 on annual premium equivalent basis for the industry was strong at 19% YoY led by private insurers with growth of 24% YoY.
Drivers of this growth were largely a lower base and continued outperformance of certain players.
Month-on-Month growth was slow (despite slower January 2021 as well) at down 2% YoY with private insurers growing at approximately 2%.
Importantly year-to-date private insurers saw flattish growth, while last March 2020 saw decline in growth due to lockdown and should favour further growth to end FY21 with positive single digit growth.
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