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Life Insurance Sector Update – Closing FY22 On A Positive Note: Nirmal Bang

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BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

March 2022 life insurance industry numbers indicate that the FY-ending month was a strong one.

2-year CAGR (FY20-22) in terms of number of policies sold has improved to 3.1%.

Further, 2-year CAGR for private sector APE sales stands at 14.5-15%, far outpacing LIC, implying market share gains for the private sector companies.

On year-on-year basis, FY22 saw private sector total APE growing by 21.8% against an overall industry growth of 14.3%.

In March’22, private sector total APE increased by 10.9% YoY while the industry grew by 29.7% YoY.

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In terms of number of policies sold, FY22 growth for the private sector was 3.4% while for the overall industry, it stood at 3.5%.

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