Life Insurance - Strong Business Growth For Sector In September; Private-Sector Growth High: Anand Rathi
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Anand Rathi Report
In September, growth was good for the entire sector (private and Life Insurance Corporation of India).
Private insurers’ growth was resilient as new-business premiums grew 42% YoY. LIC was up 12% YoY.
At end-Sep-21, new business premiums amounted to Rs 310 billion (Rs 254 billion a year prior).
The annual premium equivalent for the private sector grew 36% YoY at end-Sep-21. The APE of LIC, the sole public entity, grew 12% YoY.
At end Sep-21, total APE was Rs 100 billion (Rs 80 billion a year prior).
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