Premium life insurance grew by double digits in the June quarter, in the 30th quarter, the collection grew 10% from a year ago. The Company's Life Insurance grew by 6% while the private sector collectively booked 21% growth.
HDFC Standard Life, a private-sector life insurance company, reported revenue growth of 66% to RMR 2,6.
"This growth is driven primarily through premium business, which grows at a much faster rate,"
"Individual regular premium current insurance businesses are almost 29% of the market, with the private sector selling more products."
Among private players, Birla Sunlife, Tata AIA and Max Life reported growth. With 11% market share, Prudential Life beat SBI Life to become the biggest player in regular regular premium income.
In regular business, LIC has 44% market share compared to private sector which is 55%.
"We expect the growth to recover to 16% and drive their WRP market share to 53%," said Motilal Oswal.
HDFC Standard Life, a private-sector life insurance company, reported revenue growth of 66% to RMR 2,6.
"This growth is driven primarily through premium business, which grows at a much faster rate,"
"Individual regular premium current insurance businesses are almost 29% of the market, with the private sector selling more products."
Among private players, Birla Sunlife, Tata AIA and Max Life reported growth. With 11% market share, Prudential Life beat SBI Life to become the biggest player in regular regular premium income.
In regular business, LIC has 44% market share compared to private sector which is 55%.
"We expect the growth to recover to 16% and drive their WRP market share to 53%," said Motilal Oswal.