Life Insurers

With the entry of these two firms into the space, the number of life insurance companies in the sector goes up to 25, after remaining stagnant since 2011

Regulator's instruction is about burning or break-even cost calculated to estimate the expected losses for a policy

LIC posted a record rise in the Q2 profit after tax (PAT) to Rs 15,950 crore, up 10x year-on-year (YoY) compared to Rs 1,433.71 crore a year ago

The new business premium income of India's life insurance companies rose by 15.3 per cent to Rs 24,916.58 crore in October 2022, data from the Life Insurance Council showed. All the 24 life insurers had a collective new business premium income of Rs 21,606.25 crore in the same month a year ago (October 2021). LIC -- the only state-owned and the largest life insurer in the country -- recorded 18 per cent rise in its new business premium at Rs 15,920.13 crore during the month, as against Rs 13,500.78 crore a year ago. The rest 23 players in the private sector witnessed their combined new business premium increasing by 11 per cent to Rs 8,996.45 crore, as against Rs 8,105.46 crore in October 2021. On a cumulative basis, all the 24 players registered 35 per cent increase in new business premium income during April-October period of 2022-23 at Rs 2,06,893.51 crore as against Rs 1,53,588.14 crore in the same period of 2021-22, as per the data.

Insurer also eyeing higher dividend to regain investor confidence

Value of new business growth and margins remained strong in Q2

The new business premium income of domestic life insurance companies rose by 17.3 per cent to Rs 36,366.53 crore in September of this fiscal year, data from Irdai showed on Tuesday. All the 24 life insurance companies had a collective premium income of Rs 31,001.17 crore in the same period a year ago. The largest and the only state-owned insurer LIC recorded a jump of nearly 35 per cent in the new premium income of Rs 24,991.26 crore in September 2022-23, as against Rs 18,520.21 crore in same period of 2021-22, showed the data from the Insurance Regulatory and Development Authority of India (Irdai). However, the rest of the 23 players in the private sector witnessed a decline of 8.9 per cent in their combined new premium income during the reported month at Rs 11,375.27 crore as against Rs 12,480.96 crore a year ago. Among the private sector players: SBI Life registered a fall of 15 per cent in new premium income at Rs 2,471.37 crore; HDFC Life down by 22.3 per cent at Rs 2,165.97 .

Some of these steps include improving LIC's 13th month and 25th persistency ratio, which is less than its peers

In FY23, so far, non-life insurers have reported a 19 per cent growth in premia to Rs 1.02 trillion

Insurance regulator releases exposure draft aiming to provide greater flexibility to insurers as far as their corporate agency tie-ups are concerned

Protection segment, overall, has witnessed decent growth, mainly because of strong traction in the credit life business, buoyed by disbursement from banks and NBFCs.

The poor listing is set to disappoint millions of small-time investors who bid enthusiastically for the issue because of their long and emotional association with the insurer and its products

Life insurance companies logged 84 per cent growth in their cumulative new business premium at Rs 17,940 crore in April 2022, primarily helped by LIC, Irdai data showed.

NBP is the premium acquired from new policies for a particular year

NBP of the overall industry in January reported a marginal 2.65 per cent growth to Rs 21,957.04 crore over the same period a year ago.

As claims burden drops, life insurers hold enough reserves, cushioning balance sheet against risk

People who have recovered from coronavirus infection will have to wait for up to three months before they can take a new life insurance policy

Avoid insurers with large difference in claims settled by number of policies and by benefit amount

The new business premium, or the first year premium, of 24 life insurance companies had stood at Rs 24,383.42 crore in December 2020

Profitability a worry with excess reserves on balance sheet for Covid claims