Life Insurance tracker Apr’20 – Weak trend of March continues due to lockdown

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 HDFCL: HDFCL reported APE decline of 39.8% yoy in Apr’20 to Rs2.4bn. Retail APE at
Rs1.9bn was down by 28.6% yoy. Total NBP at Rs6.7bn was down by 53% yoy. Retail
NBP was down by 35% yoy to Rs2.7bn.
 IPRU: IPRU reported APE decline of 61.2% yoy to Rs1.8bn in Apr’20. Retail APE at
Rs1.5bn decreased by 55.1% yoy. Total NBP at Rs2.6bn was down by 59.6% yoy. Retail
NBP was down 51.7% yoy to Rs2bn.
 MAXL: MAXL reported relatively better APE numbers, with a decline of 15% yoy in Apr’20
to Rs1.2bn. Retail APE decreased 19.5% yoy to Rs1.1bn. Total NBP at Rs1.7bn was down
by 14.7% yoy. Retail NBP was down by 8.7% yoy to Rs1.6bn.
 SBIL: SBIL reported APE decline of 54.1% yoy to Rs2.1bn in Apr’20. Retail APE at
Rs1.1bn was down 73% yoy. Total NBP at Rs9.2bn was up 0.5% yoy. Retail NBP was
down 68.1% yoy to Rs1.4bn, but group NBP recorded strong growth of 61%.
 LIC: LIC reported APE decline of 21% yoy to Rs15bn in Apr’20. Retail APE at Rs7.7bn
was down 48% yoy. Total NBP at Rs35.8bn was down 32% yoy. Retail NBP was down
56.8% yoy to Rs10.6bn.
 In addition, interestingly, growth in group insurance premium for LIC and SBIL has
remained healthy; however, the trend in individual premium receipts continued to
remain weak.

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