Private Insurers’ Individual Weighted Received Premium Grows 7% In January; LIC Reports Decline: Motilal Oswal
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Motilal Oswal Report
The Individual weighted received premium for private players grew 7% YoY in January 2021 (versus 3% in December 2020), while the industry posted a 21.8% decline (versus a growth of 3.4% in Dec-20).
The same was due to a strong base month (January 2020) in which the industry posted a sharp growth of 45.8% YoY (led by Life Insurance Corporation).
Private players continue to maintain their positive trajectory, led by the focus on the protection and non-par segments.
LIC reported a 45.4% YoY decline (versus a growth of 4.1% YoY in December 2020) in Individual WRP as the base month registered a strong growth of 98.5% YoY.
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