Life Insurance - Non-Single Premiums Lead The Growth Charts In September: CareEdge

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..CareEdge Research Report.Following robust growth in FY23, first-year premium numbers in September 2023 witnessed a decline of 15.5%, an improvement from the 18.5% decrease observed in August. This trend was preceded by a more substantial drop of 28.7% in July and compares unfavorably to a 17.3% increase in September 2022. Several factors contributed to this decline, including a substantial reduction in group premiums, particularly attributable to Life Insurance Corporation of India, introduction of a new tax regime, and the significant momentum experienced in March 2023. The private insurance sector, however, played a mitigating role by partially counteracting the dip in LIC premiums. While private insurance companies have maintained growth, their pace was comparatively subdued in comparison to the previous year. Additionally, H1 FY24 new business premiums of life insurers reported a drop of 13% compared to the 37.9% growth in H1 FY23. The YoY decline can be attributed to group premiums (primarily single premiums and LIC). Private insurance companies continued their growth momentum as they witnessed growth in the individual space..Click on the attachment to read the full report:.Life Insurance- Strong Show By Large Private Players In September Excluding ICICI Life; LIC Drags: Nirmal Bang.DISCLAIMERThis 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.

Life Insurance - Non-Single Premiums Lead The Growth Charts In September: CareEdge

Private insurance companies continued their growth momentum as they witnessed growth in the individual space.

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