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Anand Rathi Report
With business returning to normal in September on the further lifting of the lockdowns, life insurers registered strong growth.
The new-business premiums (NBP) of the private sector grew 20% YoY; Life Insurance Corporation of India 30% YoY.
At end-September 2020, total NBPs amounted to Rs 254 billion versus Rs 201 billion a year prior.
The annual premium equivalent (APE) for the private sector grew 5% YoY at end-September-20. LIC, the sole public entity, grew 3% YoY.
At end-September-20, total APE was Rs 80 billion versus Rs 77 billion a year prior.
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