The life insurance sector data for November has shown a mixed trend in premium collections and individual Annualised Premium Equivalent (APE). While the Life Insurance Corporation of India's (LIC's) premium has decreased by 33% compared to the same period last year, its individual APE has experienced a decline of 9% year-on-year (YoY).
The premium for HDFC Life has seen a decline of 21% year-on-year, with the Individual APE down by 4% compared to the previous year.
In contrast, ICICI Prudential Life Insurance has seen a positive growth trend, with a 2% increase in premium collection. However, the individual APE has shown a decline of 3% year-on-year.
Max Life has demonstrated growth in premium collections, marking an 8% increase compared to the same period last year. The Individual APE has also shown a corresponding increase of 8% year-on-year.
SBI Life, on the other hand, witnessed a decrease in premium collections, with a 10% decline year-on-year. The Individual APE for SBI Life has also experienced a decrease of 3% compared to the previous year.
(Edited by : Amrita)
First Published: Dec 7, 2023 2:01 PM IST
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