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Private players saw 15 per cent Y-o-Y growth in November 2024 (two-year CAGR: 7 per cent) (vs 12 per cent/-1 per cent in Oct-24/Nov-23). Public sector major, Life Insurance Corporation's (LIC's) APE declined by 12 per cent Y-o-Y (two-year CAGR: -11 per cent). Private players' market share has risen to 69 per cent (vs 66 per cent in Nov-23).
The year-to-date (YTD) financial year 2025 (FY25) growth came in at 16 per cent and 21 per cent Y-o-Y for the industry and private players respectively (vs 7 per cent/11 per cent Y-o-Y in FY24 over the same period). SBI Life witnessed a growth of 9 per cent Y-o-Y in Nov-24 (vs 10 per cent in Oct-24 and -3 per cent in Nov-23) and lost market share in FY25 YTD. SBI Life recorded a two-year CAGR of 3 per cent. It registered individual and total APE growth of 13 per cent and 8 per cent Y-o-Y in YTD FY25. This resulted in a market share loss of 47bp to 16 per cent in FY25 YTD.
This story is from the December 13, 2024 edition of Business Standard.
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This story is from the December 13, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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