December life insurance data: LIC's premium rises by 94%, SBI Life sees 21% growth
The premium for Life Insurance Corporation of India (LIC) has seen a growth of 94% on-year, and the Individual APE has also risen by 2% compared to the last year.
The life insurance sector data for December has shown a mixed trend in premium collections and individual Annualised Premium Equivalent (APE). While HDFC Life's premium has increased by 3.3% compared to the same period last year, its individual APE has experienced a decline of 4.7% year-on-year (YoY).
The premium for Life Insurance Corporation of India (LIC) has seen a growth of 94% on-year, and the Individual APE has also risen by 2% compared to the last year.
ICICI Prudential Life Insurance has also seen a positive growth trend, with a 3% increase in premium collection. The individual APE has also shown a growth of 12.6% on-year.
Max Life has demonstrated growth in premium collections, marking an 18% increase compared to the same period last year. The Individual APE has also shown an increase of 15% on-year.
SBI Life witnessed an increase in premium collections, with a 21% rise year-on-year. The Individual APE for SBI Life has also experienced a growth of 19.6% compared to the previous year.
First Published: Jan 9, 2024 1:46 PM IST
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