In February, the life insurance sector witnessed a surge in its overall annualized premium equivalent (APE), growing 25% year-on-year, marking the highest growth rate observed in at least the past 13 months. This increase was predominantly led by the private sector, which posted a growth rate of 22%, with significant contributions from leading companies such as HDFC Life Insurance Co Ltd, ICICI Prudential Life Insurance Co Ltd, Max Life, and SBI Life Insurance Co Ltd. Meanwhile, the Life Insurance Corp of India (LIC) outpaced the private sector by registering an APE growth of 32%.
