Strong Business Growth Continues For Private Life Insurers In August; LIC, An Iota Weak: Anand Rathi
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Anand Rathi Report
Private life-insurers growth momentum continued in August 2021, whereas Life Insurance Corporation of India, the sole public-sector entity, was weak.
Private-sector new-business premiums grew 21% YoY. LIC’s NBPs were down 4% YoY.
At end-August-21, NBPs amounted to Rs 278 billion (Rs 270 billion a year prior).
The annual-premium equivalent for the private sector grew 36% YoY at end-August-21.
LIC’s APE slid 3% YoY. At end-August-21, total APE was Rs 89 billion (Rs 78 billion a year prior).
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