Life insurance stocks up on decent growth prospects in first quarter

But analysts' target prices suggest limited upside in HDFC Life and ICICI Pru Life, and between 15-20 per cent for SBI Life, Max Life and LIC

LIC, Life Insurance Corporation

Devangshu Datta

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Private life insurers are expected to deliver decent growth in the first quarter of the 2023-24 financial year (Q1FY24) on the back of stronger group business performance and easing supply-side constraints on individual protection. Life Insurance Corporation (LIC), though, is likely to see a decline. 

Healthy 12 per cent year-on-year (YoY) retail annual premium equivalent (APE) growth for private players, coupled with 11 per cent year-on-year (YoY) decline in LIC, will pull retail APE growth to a mere 3 per cent YoY in June 20233. For Q1FY24 retail APE, the private sector reported growth of 8 per cent YoY, while LIC logged a decline of 6 per cent YoY, resulting in LIC’s retail APE market share declining by 330 basis

First Published: Jul 11 2023 | 9:55 PM IST

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