The data for August life insurance premium collection, released recently, may have brought some optimism, but it has also given reasons to remain cautious. The 8-per cent decline in August seems better when compared to the lockdown period, when premia collected declined 23-28 per cent year-on-year (YoY).
However, it is important to dissect the data before turning optimistic. Consider this: Much of this rebound has come from group insurance premium (up 30 per cent YoY) and single premium products (up 60 per cent) for private insurers, and less from the retail (individual) business. ...
