Private Insurers’ Individual Weighted Received Premium Grows 3% YoY In December; LIC Reports 4% Growth: Motilal Oswal
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Motilal Oswal Report
Individual weighted received premium for private players grew 3% YoY in December 2020 (versus a 7.1% YoY decline in November 2020), in line with the industry, which posted a growth of 3.4% YoY (versus a 33% YoY dip of in Nov-20).
The industry continues to display a positive trajectory after witnessing a decline due to Covid-19, led by a focus on protection and non-participating segments.
For FY21 year-to-date, individual WRP for private players declined 5.8% YoY. The same for the industry dropped by 7.9% YoY.
Life Insurance Corporation of India reported a growth of 4.1% YoY (versus a 54.3% YoY dip in November 2020) in Individual WRP.
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