Life Insurance Update - Strong Performance In May Despite Lockdowns: IDBI Capital
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Life Insurance Update - Strong Performance In May Despite Lockdowns: IDBI Capital

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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.

IDBI Capital Report

Overall new business premium (NBP) declined 5.5% YoY for the industry to Rs 129.8 billion as private players fared better with a 14.2% YoY increase in overall NBP to Rs 40.3 billion.

HDFC Life Insurance Company Ltd. registered a strong performance as overall NBP grew sharply by 46.6% YoY to Rs 9.4 billion.

This outperformance by HDFC Life was driven by a substantial increase in the group single premiums which jumped 2.1 times.

Overall NBP for ICICI Prudential Life Insurance Company Ltd. declined 3.9% YoY while SBI Life Insurance Company Ltd. saw a modest 1.6% YoY increase in overall NBP in May 2021.

Max Financial Services Ltd. continues to perform well with overall NBP up 25.1% YoY to Rs 2.9 billion.

Click on the attachment to read the full report:

IDBI Capital Life Insurance Sector Update.pdf

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