India's LIC falls on Nov APE decline; growth momentum softens for life insurers - analysts

Sbi Life Insurance

10/12/2024 07:35

** Life Insurance Corp of India  LIFI.NS  falls 3.8% to
949.2 rupees; set for worst day in two months
    ** Nuvama says LIFI posted steep 20.4% decline Y/Y in total
annualized premium equivalent (APE) for November, lost market
share to ICICI Prudential Life Insurance  ICIR.NS  and HDFC Life
Insurance  HDFL.NS 
    ** Nomura says growth momentum softens in November with
private players outperforming overall industry and market share
gains
    ** Keeps HDFL and SBI Life Insurance  SBIL.NS  as top picks
in the sector; HDFL, SBIL and ICIR posted a 5.2%, 8.5% and 58.4%
growth in total APE, respectively
    ** HDFL and SBIL trading flat; ICIR up 0.5%
    ** Nuvama says Max Life Insurance, unit of Max Financial
Services  MAXI.NS , posted 24.3% growth in total APE; stock down
1%
    ** YTD, LIFI and ICIR up ~14% and ~27%, respectively; HDFL
down 1.5% and SBIL up ~2%

 (Reporting by Dimpal Gulwani and Manvi Pant in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))