ADVERTISEMENT

Life Insurance - Individual WRP For Private Players Grows 18% In February; LIC declines 3%: Motilal Oswal

In terms of Individual weighted received premium, the market share of private players expands to ~68% in Feb-23

<div class="paragraphs"><p>A person filling an application form. (Source: freepik)</p></div>
A person filling an application form. (Source: freepik)

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. 

Motilal Oswal Report

The Individual weighted received premium for private players grew 18.2% YoY in Feb-23 (a three-year compound annual growth rate of 14.7%, up 14.2% in Jan-23). Individual WRP for the industry grew 10.5% YoY in Feb-23 (a three-year CAGR of 11.0%, up 9.9% in Jan-23).

During April-22-Feb-23, private players grew 18.1% YoY (a three-year CAGR of 12.9%).

Among listed players, HDFC Life Insurance Company Ltd. (including Exide merger) reported 38.3% growth in Feb-23 (a three-year CAGR of 20.4%).

ICICI Prudential Life Insurance Company Ltd./Max Life reported modest growth of 7.3%/5.8% (a three-year CAGR of 2.1%/5.6%).

SBI Life Insurance Company Ltd. reported flat trends with a 0.2% YoY decline (a three-year CAGR of 15.3%).

Among mid-sized players, Tata AIA/Birla Sun Life/Kotak Life/Bajaj Allianz reported growth of 59%/43%/31%/30% YoY (a three-year CAGR of 27%/20%/18%/35%).

Life Insurance Corporation of India reported a decline of 3.0% YoY in Individual WRP (a three-year CAGR of 4.6%, up 3.0% in Jan-23). During Apr-22-Feb-23, Individual WRP for LIC grew 9.3% YoY (a threeyear CAGR of down 0.7%).

After reporting a modest growth over Jul-Oct-22, the industry has been witnessing a pick-up for the past few months, with growth reverting to double digits.

Click on the attachment to read the full report:

Motilal Oswal Insurance_Monthly.pdf
Opinion
Private Life Insurers Outpace LIC As Industry Revenue Dips In February

DISCLAIMER

This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.