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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.
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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