Private Insurers’ Individual Weighted Received Premiums Grow 23% In February; LIC Reports 9% Growth: Motilal Oswal
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Motilal Oswal Report
Private players’ Individual weighted received premium (WRP) saw a strong rebound (23% YoY) in February 2021 (versus 7% YoY in January 2021), while the industry posted a 17.8% YoY growth and Life Insurance Corporation of India grew at 9.4% YoY.
The rebound in private players continued, led by a focus on Non-participating, with Unit Linked Insurance Plans seeing a recovery.
In FY21 year-to-date, private players’ Individual WRP fell 1.6% YoY. The same for the industry fell 7.5% YoY.
We expect premium growth to rebound over FY22 after seeing tepid trends, with ULIP showing a revival. Players continue to focus strongly on Non-PAR and Protection segments.
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