Life insurance reported strong (26-47%) growth in individual annualised premium equivalent (APE) during Q1FY22 (on a low base of 1QFY21). Barring SBI Life (down 12% year-on-year (y-o-y) due to high base), group APE (up 77-240% y-o-y) was strong for all players on a low base of Q1FY21.
On a two-year CAGR basis, individual APE was down 1% for HDFC Life, 8% for SBI Life and 15% for ICICI Prudential Life. Max.
