June life insurance data rises 4% on YoY basis
Life insurance data for the month of June witnessed a premium rise of 4 percent on a year-on-year basis while retail annual premium equivalent has grown 10 percent. The growth has been just a low single-digit for the entire sector but it would be wrong to go by the industry growth because private players on a standalone basis have outperformed the entire industry.
Life insurance data for the month of June witnessed a premium rise of 4 percent on a year-on-year basis while retail annual premium equivalent has grown 10 percent. The growth has been just a low single-digit for the entire sector but it would be wrong to go by the industry growth because private players on a standalone basis have outperformed the entire industry.
Private June premium is up 34 percent on a year-on-year (YoY) basis. Also in Q1FY22, the premium is up again 34 percent for the private life insurance sector.
As far as companies are concerned, for HDFC Life Insurance the June premium is 25 percent, the Q1FY22 premium is up 43 percent and the June retail APE is flat in the month of June on a YoY basis.
For ICICI Prudential Life Insurance the June premium is up 124 percent, the Q1FY22 premium is up 70 percent and the June retail APE is also up about 43 percent.
For Max Life Insurance the June premium is up 21.3 percent, the Q1FY22 premium is up 38 percent and the June retail APE has seen a growth of 17 percent. For SBI Life the June premium is up 17.6 percent, the Q1FY22 premium is up 9.3 percent and the June retail APE has seen a growth of about 12.5 percent.
Watch the accompanying video of CNBC-TV18’s Yash Jain for more details.
(Edited by : Anshul)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
2024 Lok Sabha Elections | Why Kerala is in focus as the second phase begins to vote
Apr 26, 2024 9:33 AM
Bengaluru Rural Lok Sabha election: Over 20% voter turnout recorded by 11 am
Apr 26, 2024 9:11 AM