Life Insurance - Strong Performance Continues For Private Players In July: IDBI Capital
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IDBI Capital Report
We believe that some companies, such as HDFC Life Insurance Company Ltd. and Max Financial Services Ltd. have become more cautious in their underwriting and hence reported a slower than private players growth, while SBI Life Insurance Company Ltd. and ICICI Prudential Life Insurance Company Ltd. continue their strong momentum as seen in Q1 FY22.
We believe unit linked investment plans continue to be in flavor and would be the larger driver of premium collection along with non-par guaranteed products.
For ICICI Prudential, the growth during the month was led by the group term business and ULIPs, and the overall mix would be margin accretive business during the month.
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