Annual sales figure of the Indian life insurance in 2010-11 is now available. This has been a tumultuous year for the industry with new regulations on ULIP to begin September 1, 2010. In some cases, were particularly life insurance players in circulation decreased by 35% after new rules in the corresponding period last year. However, the overall decline masked due to strong growth in the first half. Gradually, the life insurance industry finds its feet following the rules and drive sales reported in March 2011. It was the largest recipient of new global rules, Big Daddy insurance in India.Globally, the life insurance industry recorded growth rate of 15% over the previous year. According to industry business premium Rs lakh crores rupees November FY10 R 1260000 - 11 1.9 lakh more for 09-10 years. However, most of this increase is explained by the Libyan company, which grew by 22% for Rs 86.444 million rupees from the previous 70.891 million rupees. In this process, and increased market share of the global insurance market, the public life of 4% 64.86% to 68.7%.
Record players, especially life insurance with a premium of R 39381000 R and increasing market share of 31.3% to 3% of new business premium this fiscal year. However, this is only part of the story. In the last six months, because when ULIP rules came into force, the life insurance sector have a significant impact on growth that has been hidden to improve the results before the entry into force of the Regulation.
Share Premium Business new private players in the market is next. New Business Premium (EP) and the percentage of market share
Stock Exchange
ICICI Prudential 7861, 6.3%
Life 7571, 6.0%
HDFC Live 4065, a 3.2%
Bajaj Allianz in 3462, 2.8%
Reliance Life 3035, 2.4%
Birla Sunlife 2077, 1.7%
New York in 2060, Max 1.6%
Tata AG 1331, 1.1%
Kotak Mahindra Old Mutual 1253, 1.0%
Canary HSBC OBC Life 823, 0.7%
Star Union Dai Ichi 759, 0.6%
Aviva 745, 0.6%
India first 705, 0.6%
Met Life 704, 0.6%
Vysya LG 660, 0.5%
Shriram Life 575 0.5%
Future of Life, Austria, 449, 0.4%
IDBI Federal 445, 0.4%
Bharti AXA Life 362, 0.3%
Aegon Religare 275, 0.2%
Living Desert, 91, 0.1%
DLF Pramerica 74, 0.1%
Total 39 381 31.3%
It is clear that the five best players and especially ICICI Prudential, the life of the SBI, HDFC, Bajaj Allianz Life of confidence and then there are 14 life insurance companies with a market share of less than 1%. first detailed look at private companies and put on a list of companies with a significant increase in insurance premiums, while at the same time, some lost ground. IndiaFirst a significant increase in life premium growth of 250%, but at a very low base. Demonstrated religare DLF Pramerica and Aegon also increased from a low base, but the largest increases are impressive Eastern Canary HDFC HSBC ICICI Prudential Life and living, which showed that each increase of 25%.
India received 250%
Canary HSBC OBC Life 29%
HDFC Standard 25%
ICICI Prudential 24%
DLF vehicle Rica 98%
Aegon religare 83%
Star Union Dai Ichi 46%
Shriram Life 37%
However, there were some life insurance companies own a significant decline. MetLife has been registered, which has lost the relationship with the World axis decline in premium income up 34% (of the candidate and the outcome of the final report of bank insurance, and can catch). Birla Sunlife and new business premium 30% less than last year, while reducing the Bajaj Allianz Life Insurance 22%.
It would be interesting to see how life insurance is the current fiscal year, which will be the first full year of the Regulation entered into force on ULIPs basin. Long-term changes to be healthy in life insurance market in India. Will pension products, which use about 30% of the market and killed practically new legislation, and to return to live again this year, and infrared will change the previous forecast. Overall, the year promises to be interesting in future.
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