Nirmal Bang: Private Insurance Annual Premium Equivalent Up 14%; HDFC Life Strong, ICICI Prudential Getting Better
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Nirmal Bang Report
Individual annual premium equivalent growth (YoY) for October 2020 was 10.7%.
Post turning positive in September 2020, growth was very strong in October 2020, partially because of a low base.
October 2019 had seen a 10.5% month-on-month drop in individual APE compared to a 4.8% decline in October 2020.
Private industry’s individual APE grew by 14.4% YoY in October-20 while LIC reported a growth of 6% YoY.
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