‘Life Insurers’ premium growth may be muted

Life insurers are likely to report subdued premium growth for the first quarter of the current fiscal year following strong top-line growth in the fourth quarter of FY23.

Post the implementation of budgetary changes that came into effect on April 1, high-value non-unit linked savings products are likely to see a dip.

The general insurance sector, on the other hand, is expected to report robust premium growth as well as enhanced claim and operational expenditure ratios in the first quarter.

In the first quarter of FY24, HDFC Life, SBI Life, and Max Financial Services are projected to achieve year-on-year annual premium equivalent (APE) growth of 15%, 8%, and 8%, respectively, while ICICI Prudential Life is likely to experience a 9% decline in APE on year.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.