Private sector insurers have seen their stocks lose some shine this week, a surprise since monthly data issued by the regulator a few days ago indicates that growth momentum is intact for their business. Private sector insurers have been eating into public sector behemoth Life Insurance Corporation of India’s (LIC’s) market share for many years now. In October, their market share went up by 3.9 percentage points.
The year-on-year growth in annualized premium equivalent (APE) for these insurers was an impressive 18% in October. Indeed, insurers have been able to sell policies faster and faster every month.
