Life Insurance Sector Update - Building On The Momentum: Nirmal Bang
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Nirmal Bang Report
Total number of individual policies sold in August 2021 was up 12.3% YoY for the private sector and 26.6% YoY for the entire industry.
Post the second Covid-19 wave’s impact during April-May 2021, we have seen a strong revival in sales from June 2021 onwards, which continued in August 2021.
Sequentially month-on-month, the number of policies sold was up 2% for the private sector and 18% for Life Insurance Corporation of India.
Individual annual premium equivalent for August 2021 was up 19% YoY for the industry (private sector: up 39% YoY, LIC: down 5% YoY).
Year-to-date, individual APE is up 17% YoY (private sector: up 31% YoY, LIC: flat YoY).
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