News: Life insurance industry reported 14% YoY growth in premium to ₹ 31822 crore, with LIC delivering growth of 20% YoY. However, on APE (Annualised Premium Equivalent) basis, industry reported a growth of 16.9% YoY. Within players, private players delivered growth of 18% YoY, while LIC witnessed some moderation at 13.5% YoY. While HDFC Life and Max Life reported strong growth at 49.5% and 38% in APE, SBI Life remained steady (9.3% YoY) and Pru saw some moderation (3.6% YoY).
Views: Continued healthy pace of premium accretion in industry, led by unit linked products, remain optimistic. Hangover of regulatory changes seems to be behind resulting in gradual uptick in valuation.
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