Life insurers’ registered strong February as people start making investments before the financial year ends in March.
Strong Performance For Life Insurers Stock
Private-sector new-business premiums (NBP) grew 17% YoY; Life Insurance Corporation of India was up 24% YoY.
At end-Feb-21, NBPs amounted to Rs 224 billion (Rs185 billion a year prior).
The annual-premium equivalent (APE) for the private sector grew 20% YoY at end-Feb-21.
For LIC, the sole public entity, it grew marginally at 3% YoY.
At end-Feb-21, total APE was Rs 86 billion (Rs 77 billion a year prior).