Life Insurance Sector - Private Firms’ Individual Weighted Received Premium Grows 5% YoY In May: Motilal Oswal
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Motilal Oswal Report
Private players’ individual weighted received premium reported a growth of 5% YoY in May 2021, while the industry posted a decline of 8.9% YoY.
This was despite a low base as individual WRP declined ~32%/20% in May 2020 for private players/industry due to the outbreak of Covid-19 and the ensuing lockdown.
However, the second Covid wave, along with the lockdown in major states, have weighed down on overall performance in May-21.
In FY22 year-to-date, private players’ individual WRP grew 37.4% YoY.
The same for the industry grew 22.7% YoY.
Life Insurance Corp. of India reported a decline of ~22% YoY in individual WRP versus a decline of 3% YoY in May-20.
During FY22 year-to-date, LIC’s individual WRP grew 7% YoY.
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