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ICICI Securities Report
Despite Covid-19 impact, annual premium equivalent growth has recovered well for most private insurers.
Total APE for 11 months-FY21 to-date has now grown by 7.8%, (down) 0.3%, (down) 21.8%, 14.8%, 12.4% and 15.4% for HDFC Life Insurance Company Ltd., SBI Life Insurance Company Ltd., ICICI Prudential Life Insurance Company Ltd., Bajaj Allianz, Max Life and Tata AIA, respectively.
Some of the positive triggers going ahead could be -
1. revival of traditional bancassurance channels, which were subdued due to Covid-19,
2. opening of medical tests for protection sales,
3. revival of unit linked insurance plan sales with broad market performance and
4. weak base of H1 FY21.
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