Life Insurance - Growth Trends Remain Strong Amid Multiple Corrections: ICICI Securities

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Securities Report.Private life insurers reported 18%/13% YoY growth in individual/total annual premium equivalent in February 2023 and 18/19% YoY in 11 months-FY23, respectively. Life Insurance Corporation of India reported a decline of 19% YoY in total APE in Feb-23 but has grown strong 20% YoY in 11MFY23. Overall / individual sum assured growth has been 24/7% in FY23- to-date for private life insurers. Key highlights of the sector include:Strong likely growth in non-par segment in Q4 FY23 in lieu of removal of tax exemption on insurance income from premiums surpassing Rs 500,000 per year from FY24,stable term pricing for key insurers while Bajaj Allianz has taken some selective price hikes,stock price corrections largely in proportion to high ticket size portfolio andhigher growth in group portfolio versus individual sum assured..Click on the attachment to read the full report:.Life Insurance - New Business Premium Stumbles In February As Group Premiums Fall Sharply: CareEdge.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Life Insurance - Growth Trends Remain Strong Amid Multiple Corrections: ICICI Securities

Total sum assured growth has been 22% for the sector in FY23-to-date.

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