Life Insurance Sector Update- Private Insurers Fare Well In May; LIC Crumbles In Second Wave: Anand Rathi
A person filling SBI Life Insurance form. (Source: BloombergQuint)

Life Insurance Sector Update- Private Insurers Fare Well In May; LIC Crumbles In Second Wave: Anand Rathi

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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.

Anand Rathi Report

For May 2021, growth was curbed by the second Covid-19 wave as many states imposed stricter lockdowns.

Private-sector new-business premiums grew 14% YoY.

Life Insurance Corporation of India Ltd. was down 12% YoY.

At end-May-21, new business premiums amounted to Rs 130 billion (Rs 137 billion a year prior).

The annual-premium equivalent for the private sector grew 6% YoY at end-May-21.

For LIC, the sole public entity, its annual premium equivalent slid 44% YoY.

At end-May-21, total annual premium equivalent was Rs 42 billion (Rs 57 billion a year prior).

Click on the attachment to read the full report:

Anand Rathi Insurance Sector Update.pdf

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