Who was the strongest performer in life insurance in January?

Axis Max Life emerged as the strongest performer in January, with significant growth in New Business Premium and APE.

How did SBI Life perform in January compared to previous months?

SBI Life's performance moderated in January, showing about 8% growth in New Business Premium after delivering strong numbers in previous months.

Which life insurance companies showed mixed or softer results in January?

HDFC Life reported a softer month with declining premiums, while SBI Life's growth moderated, indicating mixed trends among insurers.

Home / Business and Economy / Axis Max Life Leads as SBI Life Slows Down

Axis Max Life Leads as SBI Life Slows Down

9 Feb

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Summary

Axis Max Life saw strong growth in New Business Premium.
SBI Life's growth moderated in January after previous strength.
HDFC Life experienced a contraction in key performance metrics.

Axis Max Life Leads as SBI Life Slows Down

Life insurance performance in January showed a notable change in momentum among major players. Axis Max Life demonstrated the strongest results, achieving a 24% increase in New Business Premium and a nearly 29% rise in retail APE. This indicates robust, broad-based growth across individual policies. SBI Life, after several strong months, saw its performance moderate. In January, its New Business Premium grew by about 8%, with total and retail APE increasing by approximately 3% each.

Canara HSBC Life Insurance reported healthy expansion, with a 20% rise in New Business Premium and around 12% growth in both total and retail APE. ICICI Prudential Life also posted moderate improvements, with New Business Premium up 12% and total APE growing 11%. Conversely, HDFC Life faced challenges, reporting a decline of about 3% in New Business Premium and a contraction of around 7% in retail APE. Overall, January's data highlights Axis Max Life's leadership and mixed trends for other insurers.