Insurance Sector Update - Life Insurers Better Placed In Covid 2.0: ICICI Securities

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ICICI Securities Report

Total private life insurer annual premium equivalent has grown by 26.7% in FY22-to-date led by Bajaj Allianz, HDFC Life Insurance Co., Max Life Ltd., ICICI Prudential Life Insurance Co. and SBI Life Insurance Co.

Tata AIA and Life Insurance Corp. of India total annual premium equivalent declined by 2.4% and 28.5% respectively.

SBI Life has been the leaders in individual annual premium equivalent with FY22 to-date annual premium equivalent growth of 64%.

While the growth percentage depend on the base, it can be concluded that private life insurers are significantly better placed to tackle the Covid 2.0 impact.

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