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Aug 2020

India: Protracted growth seen in life protection segment

Source: Asia Insurance Review | Jul 2020

India witnessed a strong surge in the insurance protection segment (45-50%) in the past couple of years but with the COVID-19 pandemic getting widespread, the growth trajectory in demand will continue given the rising ‘fear for life’ sentiment. 
 
This finding was published by stock broker YES Securities in a report on the Indian life insurance sector.
 
The report also stated that the life sector is witnessing an upwards repricing to pass on increases in rates by reinsurers. With the first round of hikes being well absorbed in the market, YES Securities stated that it expects further hikes. A 
 
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