Robust growth ahead for pvt insurers; HDFC Life may see stronger momentum

HDFC Life may see stronger momentum as merger synergies kick in

Life insurance

Devangshu Datta

Listen to This Article

Private players continued to show strong momentum in the life insurance individual new business segment during August, 2023. On an aggregate, the industry registered 14 per cent growth year-on-year (Y-o-Y) compared to 15 per cent in July ‘23. Private players were up 21 per cent Y-o-Y, up from 16 per cent Y-o-Y in July ‘23, while public insurers’ growth was muted at 3 per cent. Inside the private sector, bank-related players outperformed hitting 24 per cent growth, while agency growth was lower at 10 per cent.

So far during the ongoing financial year (2023-24 or FY24), individual annual premium equivalent or APE growth was 8 per cent for the industry and 13 per cent for private players.

ICICI Prudential Life

First Published: Sep 08 2023 | 9:11 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to