India News
Search Web Directory
News Home
Life insurers' premium growth doubles in first quarter, says Irdai
Posted on 14th July 2018
Premium growth of life insurance players has doubled for the first quarter of this financial year (FY2019), according to data released by the Insurance Regulatory and Development Authority of India (Irdai).

The growth rate in premium revenue for life insurers in the first quarter of 2018-19 touched 10.8 per cent, year on year, compared to an annual premium growth rate of 5.6 per cent in the first quarter of 2017-18.

Analysts said private insurers reported soft growth in premiums, in terms of individual annual premium equivalent (APE) for the first quarter of 2018-19.

Private life insurance players have experienced 21.6 per cent growth in their premiums, year on year, at the end of the first quarter of 2018-19. Life Insurance Corporation posted growth in premium revenue of 6.2 per cent.

During the first quarter of 2017-18, private players’ premium revenue grew by 12.2 per cent and LIC posted a 3 per cent growth rate in premium revenues. Premium revenue collection for private and public life insurers have doubled since last year.

Edelweiss Tokio and India First Life were the fastest-growing insurers in the first quarter of 2018-19 in terms of premium revenue, whereas Sahara Life and IDBI Federal Life experienced significant slowdown in premium revenue collection.

“Despite the leveraging of technology for the policy issuance and servicing process, the cost structure has gradually increased in the past couple of years. This was partly on account of higher employee and administrative expenses,” said a report by rating agency ICRA.

According to a report by Edelweiss Securities, for the month of June 2018, private players posted growth of 8.9 per cent in their APE, which was driven by a higher base in the previous year. LIC posted a slowdown of around 1 per cent in the APE.

Overall in 2017-18, premium revenue growth industry-wide grew at 12 per cent, year on year, with private players’ APE growing faster at 17 per cent, compared to LIC’s growth of 8 per cent at the end of 2017-18, according to ICRAs report.

“Overall, growth momentum in the first quarter of 2018-19 turned out to be less than 6 per cent, year on year, with private players posting a subdued growth of less than 5 per cent year on year,” said Edelweiss Securities.

Total APE collected by life insurers in the month of June 2018 grew by 4 per cent to Rs 473.3 billion against Rs 454.5 billion in June 2017.

The top performing life insurers, in terms of APE for June, are Edelweiss Tokia, Future Generali Life, DHFL Pramerica and Tata AIG. Aegon Religare, Star Union Dai-ichi, IDBI Fortis Life and ICICI Prudential experienced slowdown in their APE for June, compared to last year.

ICRA expects new business’ premium revenues for life insurers to grow to Rs 2,173 billion at the end of 2018-19, compared to Rs 1,939 billion in 2017-18.

While the overall growth momentum is moderating partially due to a base effect, analysts said predisposition towards financial savings would persist, which should help the industry regain momentum in the coming quarters.

Other Latest News
Uber Eats may sell Indian biz to Swiggy by March, keep 10% stake: Report
Posted on 22nd February 2019
Uber Eats, the food delivery arm of ride-hailing app Uber Technologies Inc, is close to a deal to sell its Indian business to Bengaluru-based Swiggy, the Economic Times reported on Friday.

The share-swap deal is expected to close by next month and will give Uber a 10 percent stake in food delivery service Swiggy, the paper said, citing people privy to the development.

Samsung S10+ to hit Indian shelves from Mar 8 priced Rs 73,900 onwards
Posted on 22nd February 2019
Buyers of Samsung’s Galaxy S series of premium smartphones will have to shell out close to Rs 1.18 lakh to get their hands on the top-end model of the device that starts selling in India from March 8.

Samsung had launched three models - Galaxy S10+, Galaxy S10 and Galaxy S10e - in San Francisco on February 20. These flagship devices will compete head-on with Apple’s iPhone that is seeing sales slowdown in many markets, including China.

GMR, Terna sign agreement for new airport in Greece; to invest 500 mn euros
Posted on 22nd February 2019
GMR Infrastructure on Friday said its subsidiary GMR Airports and its Greek partner Terna Group have signed a concession agreement for construction of the new international airport in Greece's island Crete.

The consortium intends to invest over EUR 500 million (approx Rs 4,034.28 crore) for development of the new airport, GMR Infrastructure said in a regulatory filing.

Petrol prices hiked to Rs 71.29 in Delhi; check latest price for metros
Posted on 22nd February 2019
Oil marketing companies hiked the price of petrol by 14-15 paise and that of diesel by 16-18 paise a litre the major metros on Friday. In Delhi, petrol prices were hiked by 14 paise to Rs 71.29 a litre as against Rs 71.15 yesterday. One litre of diesel can be purchased for Rs 66.48 in the national capital. In case of Mumbai, one litre of petrol can be purchased for Rs 76.93 up from Rs 76.79 per litre, implying a 14 paise hike.

The diesel cost has been raised to 69.63 in the financial capital. In Kolkata, one litre of petrol is retailing at Rs 73.39, while diesel can be bought for Rs 68.27. In Chennai petrol prices have been hiked to Rs 74.02, while consumers will now have to pay Rs 70.25 in Chennai. The revised rates are applicable from 6 am on Friday morning.

Bata India hits record high; stock zooms 50% in 4-months
Posted on 22nd February 2019
Shares of Bata India hit a new high of Rs 1,301 apiece, up 1 per cent on the BSE, surging 50 per cent in past four months after it reported a strong earnings growth in December 2018 (Q3FY19) quarter and foreign portfolio investors buying. In comparison, the S&P BSE Sensex was up 6 per cent during the same period.

Thus far in the calendar year 2019 (CY19), Bata India has outperformed the market by gaining 15 per cent, against unchanged benchmark index. In CY2018, it soared 52 per cent, as compared to a 6 per cent rise in the Sensex.

» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Life insurers' premium growth doubles in first quarter, says Irdai
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Security Code*

Be the first person to write a business review for Life insurers' premium growth doubles in first quarter, says Irdai

Most Read News

Bharat Dynamics soars 16% on robust December quarter results

Pulwama attack: Modi warns Pak, says security forces given full freedom

Tata Tiago crosses 2 lakh sales milestone since its launch in 2016

Dr Reddy's Labs turns volatile; stock rebounds 32% from day's low on NSE

PM Modi flags off India’s fastest train Vande Bharat Express

More India News

Photo Gallery

CBUnicorn160(9 Images) CBUnicorn160
  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
About us
Link to us
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2019
    All Rights Reserved
Privacy Statement