Insurance Sector Update - Premiums remain on strong track for private insurers By ICICI Securities
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Premiums remain on strong track for private insurers
Private life insurers reported strong growth 24% / 19% in terms of total / Individual APE growth in Q4FY21 over Q4FY19. While there was a base advantage, Q4FY21 total / individual APE grew 34% / 40% YoY over Q4FY20 for private insurers.
* In terms of total APE growth, Tata AIA, Bajaj Allianz, HDFC Life and SBI Life outperformed in Q4FY21 over Q4FY19 while LIC and Birla Sunlife were laggards.
* In terms of individual APE growth, Bajaj Allianz, Tata AIA and HDFC Life outperformed in Q4FY21 over Q4FY19 while IPRU, Birla Sun Life and LIC were laggards.
* Growth in individual policy count has been better for BALIC, HDFC Life and Max Life in FY21.
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