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Strong February For Private Life Insurers; Growth Levers Ahead: ICICI Securities

Strong February For Private Life Insurers; Growth Levers Ahead: ICICI Securities

A person fills out an application form. (Photographer: Shiho Fukada/Bloomberg)
A person fills out an application form. (Photographer: Shiho Fukada/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Despite Covid-19 impact, annual premium equivalent growth has recovered well for most private insurers.

Total APE for 11 months-FY21 to-date has now grown by 7.8%, (down) 0.3%, (down) 21.8%, 14.8%, 12.4% and 15.4% for HDFC Life Insurance Company Ltd., SBI Life Insurance Company Ltd., ICICI Prudential Life Insurance Company Ltd., Bajaj Allianz, Max Life and Tata AIA, respectively.

Some of the positive triggers going ahead could be -

1. revival of traditional bancassurance channels, which were subdued due to Covid-19,

2. opening of medical tests for protection sales,

3. revival of unit linked insurance plan sales with broad market performance and

4. weak base of H1 FY21.

Click on the attachment to read the full report:

ICICI Securities Life Insurance Monthly Mar21.pdf

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