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Life Insurance- Strong Growth In Private Life Insurers’ Annual Premium Equivalent In October: ICICI Securities

Life insurance- Strong Growth In Private Life Insurers’ Annual Premium Equivalent In October: ICICI Securities

People exercise on King’s Way boulevard flanked by the South Block of the Central Secretariat buildings. (Photographer: Ruhani Kaur/Bloomberg)
People exercise on King’s Way boulevard flanked by the South Block of the Central Secretariat buildings. (Photographer: Ruhani Kaur/Bloomberg)

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.

ICICI Securities Report

Private life insurers reported strong YoY growth of 19% and 23% in October 2021 in terms of total annual premium equivalent and individual APE respectively.

However, on month-on-month basis they reported decline in total APE, in line with historical trends (total APE fell month-on-month in October 2021 by 22% / 21.6% / 19.2% / 17.3% / 25% in FY18/19/20/21/22).

In terms of total APE, Kotak Life reported highest growth at 80% YoY followed by Bajaj Allianz Life Insurance (41%), SBI Life Insurance Company Ltd. (28.4%), ICICI Prudential Life Insurance Company Ltd. (23%) and HDFC Life Insurance Company Ltd. (20%) in Oct-21.

In terms of individual APE, Bajaj Allianz led with 61% growth followed by Kotak Life (46%), SBI Life (33%), ICICI Prudential (23%) and HDFC Life (21%). Max Life reported lower growth of 3% and 0.3% YoY in total APE and individual APE respectively.

Click on the attachment to read the full report:

ICICI Securities Life Insurance Monthly Nov21.pdf

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