Life Insurance Premium Income Gain 9% In April-November.

The life insurance industry reported 9% increase in overallannual premium equivalent in April-November, mainly due to volatile market conditions.
The growth by supported by good show by large private sector companies. In the period, overall APE- a measure to normalize policy premium into the equivalent of regular annual premium- including individual and group business for private players was up 16% to Rs 1,25,563 crore andLife Insurance Corporation up 4% to Rs 1,50,456 crore. “Among large players, ICICI Prudential Life and Max Life, which have been more volatile in FY2016 YTD, reported you decline in individual business in November leading to weak growth for the industry. Reflecting slowdown in capital market-driven inflows in the life insurance sector, Max India and ICICI Prudential Life reported a decline in income. ICICI Prudential Life grew overall adjusted premium 17%. The insurer has been the fastest-growing among large players supported by its focus on ULIPs. In November, HDFC Life saw individual APE go up 14%, Kotak Life 41% yoy and SBI Life 45%. Bucking the trend, Bajaj and Birla reported APE growth in November 2015. Both the players have reported decline in APE for the past several quarters. Bajaj Life bounced into growth in 1QFY16 to slip back into the negative trajectory in 2QFY16. Max Life reported 8.4% decline in individual APE during November 2015.

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