InvestorQ : How has been the life insurance business growth in June 2021?
Riya Dwivedi made post

How has been the life insurance business growth in June 2021?

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shrinidhi Rajan answered.
4 months ago
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For the month of Jun-21, the private life insurers reported robust numbers in terms of growth in retail business. Overall, the private insurers as a whole reported 16% yoy growth in revenues but a much higher sequential growth of 84%. Normally, the strongest growth for life insurers is in the second quarter. With Covid restrictions being largely eased with new COVID cases on a decline, the premium flow rate is expected to improve.

ICICI Prudential Life reported 43% growth on the back of new product launches and tie-ups for distribution in place. In June, the growth of ICICI Prudential Life was even better than SBI Life Insurance which reported 32.5% growth. ICICI Pru Life is the third largest private life insurer in India with 8% market share and ranks behind SBI Life and HDFC Life.

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