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Private Life Insurance Companies' premiums see strong growth in May; market share gain to continue
(14:52, 13 Jun 2019)

The annualised premium equivalent (APE) of private sector life insurers saw a 28 percent year-on-year (YoY) growth in May.

Data from the Insurance Regulatory and Development Authority of India (IRDAI) showed that the life insurance industry collected Rs 28,395.90 in first-year premiums in April and May, a 41.15 percent growth over the previous year.

As per IRDAI data, SBI Life Insurance, ICICI Prudential Life Insurance and HDFC Life Insurance posted a 6.5 percent, 4.7 percent and 9.2 percent YoY growth in their first-year premium collection.

Kotak Institutional Equities in a recent report said May was a strong month for most private sector players. Overall, it said that while inflows to equity mutual funds were better month-on-month (MoM), they were broadly muted YoY. Against this backdrop, it feels sustenance of such a high growth in inflows is crucial.

First-year premiums of private life insurers rose to Rs 9,631.27 crore in the first two months of FY20, a growth of 46.9 percent over the previous year. Life Insurance Corporation of India (LIC) saw a 38.4 percent growth in first-year premium to Rs 18,764.63 crore.

Jefferies in a recent report on insurance companies said business growth has been strong across segments. It added that the protection and annuity mix is inching up, even as other private players gain market share from LIC in retail savings.
As on  23-Aug-2019
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August - 2019]    [NAV PRICE :12.91] ,    Essel Regular Savings Fund - Direct (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :21.04] ,    Essel Ultra Short Term Fund - Direct (Div-D)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :1,006.65] ,    Essel Ultra Short Term Fund - Direct (Div-M)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :1,046.30] ,    Essel Ultra Short Term Fund - Direct (Div-W)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :1,005.06] ,    Essel Ultra Short Term Fund - Direct (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :2,153.89] ,    Essel Ultra Short Term Fund - Regular (Div-D)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :1,012.45] ,    Essel Ultra Short Term Fund - Regular (Div-M)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :1,024.24] ,    Essel Ultra Short Term Fund - Regular (Div-W)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :1,004.45] ,    Essel Ultra Short Term Fund - Regular (G)  [ NAV DATE :23 - August - 2019]    [NAV PRICE :2,069.65] ,
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