F&BC  Page 1  

New Business MIS Based on IRDA Published Figures 

August 2011 

 

 

 

 

   

F&BC  Page 2  

Contents Glossary……………………………………………………………………………………………………………………………………………………………………………………………………………………….3 

Executive Summary……………………………………………………………………………………………………………………………………………………………………………………………………..4 

Total NBP: FTM – Aug ‘11…………………………………………………………………………………………………………………………………………………………………………………………….5 

Total NBP: YTD – Aug ‘11……………………………………………………………………………………………………………………………………………………………………………………………..6 

Total NBP for Companies with Bank Partners ‐ Aug ‘11………………………………………………………………………………………………………………………………………………..7 

Individual NBP: FTM – Aug ‘11……………………………………………………………………………………………………………………………………………………………………………………..8 

Individual NBP: YTD – Aug ‘11………………………………………………………………………………………………………………………………………………………………………………………9 

No. of Policies & Ticket Size: FTM – Aug ‘11………………………………………………………………………………………………………………………………………………………………..10 

No. of Policies & Ticket Size: YTD – Aug ‘11…………………………………………………………………………………………………………………………………………………………… ……10 

Y‐o‐Y comparison of market shares: YTD – Aug ‘11……………………………………………………………………………………………………………………………………………………  12 

Private Market Share (Based on FTM figures of Total NBP) …………………………………………………………………………………………………………………………………………13 

Private Market Share (Based on YTD figures of Total NBP) ………………………………………………………………………………………………………………………………………… 14 

Private Market Share (Based on FTM figures of Individual NBP) ………………………………………………………………………………………………………………………………… 15 

Private Market Share (Based on YTD figures of Individual NBP) ………………………………………………………………………………………………………………………………….16 

Single Premium proportion in Individual Business (Based on FTM figures of Individual NBP) ………………………………………………………………………………………17 

M‐O‐M Business…………………………………………………………………………………………………………………………………………………………………………………………………………..19 

 

 

 

 

F&BC  Page 3  

 

Glossary • NBP – New Business Premium 

• SP – Single Premium 

• RP – Regular Premium 

• APE – Annualized Premium Equivalent (APE = RP+ 10% of SP) 

• FTM – For The Month 

• YTD – Year To Date 

• Y‐O‐Y – Year On Year 

• M‐O‐M – Month on Month 

F&BC  Page 4  

Executive Summary 

On FTM Basis:  

• NBP (Rs.13,857.9 Crore) for Overall industry has shown Y‐o‐Y growth of ‐25.1% and Private Sector NBP (Rs. 2,352.3 Crore) has shown growth of ‐38.8% 

• In terms of NBP, SBI Life ranks #1 amongst the private players with a private market share of 19.1% & total market share of 3.2% with a Y‐O‐Y growth of ‐47.2%. 

• For LIC of India, NBP has shown growth of ‐21.5% & has a market share of 83.0% which is more than that on YTD basis. 

• In terms of Individual APE ICICI Prudential ranks #1 and SBI Life ranks #3. 

• In terms of  Individual No. of Policies sold,  ICICI Prudential ranks #1 with 92,551 policies &  in terms of Ticket Size, HDFC has highest ticket size (on APE basis) of Rs.38,549. 

• This month, Edelweiss is appearing for the first time in IRDA report on NBP.  

 

On YTD Basis:  

•  Overall industry (Rs. 40,653.2 Crore) has shown Y‐o‐Y growth of ‐22.9% and Private Industry (Rs. 9,740.9 Crore) has shown ‐28.7%  

• In terms of NBP, SBI Life ranks #1 amongst the private players with a private market share of 21.0% & total market share of 5.0%. It shows a Y‐O‐Y growth of ‐14.3%. 

• For LIC of India, NBP has shown growth of ‐20.9% & has a market share of 76.0%. 

• In terms of Individual APE, ICICI Prudential ranks #1,  SBI Life ranks #3. 

• In terms of Individual No. of Policies sold, ICICI Prudential ranks #1 with 492,867 policies. 

 

F&BC  Page 5  

Total NBP: FTM – Aug ‘11  

 

Individual Group Total Rank

SBIL ahead by

Y‐O‐Y Growth

Pvt Market Share

Total Market Share

SP % of Total NBP APE

SBIL ahead by

Y‐O‐Y Growth

Pvt Market Share

Total Market Share

SBI Life 284.4        164.9         449.2          1 ‐          ‐47.2% 19.1% 3.2% 62.9% 194.9       ‐         ‐56.0% 12.0% 3.4%

ICICI Prudential 228.4        153.3         381.7          2 67.5        ‐36.4% 16.2% 2.8% 32.2% 270.9       (76.0)      ‐52.9% 16.7% 4.7%

HDFC Standard 214.3        91.5           305.8          3 143.4     ‐14.8% 13.0% 2.2% 29.7% 224.2       (29.3)      ‐35.0% 13.8% 3.9%

Bajaj Allianz 126.9        47.3           174.2          4 275.1     ‐49.6% 7.4% 1.3% 32.0% 124.0       70.9       ‐52.3% 7.6% 2.2%

Birla Sunlife 117.0        22.2           139.2          5 310.1     ‐45.4% 5.9% 1.0% 9.9% 126.8       68.1       ‐49.9% 7.8% 2.2%

Reliance Life 109.5        14.4           123.9          6 325.3     ‐59.3% 5.3% 0.9% 33.4% 86.7         108.2     ‐67.7% 5.3% 1.5%

Max New York 111.7        12.2           123.9          7 325.3     ‐27.6% 5.3% 0.9% 20.9% 100.6       94.3       ‐32.6% 6.2% 1.8%

Other Pvt Cos. 468.2        186.1         654.3          ‐ ‐ ‐ 27.8% 4.7% ‐ 498.5       ‐ ‐ 30.6% 8.7%

Total Private 1,660.3    692.0         2,352.3      ‐ ‐ ‐38.8% 100.0% 17.0% 34.3% 1626.6 ‐ ‐46.7% 100.0% 28.4%

LIC of India 2,588.5     8,917.1      11,505.6    ‐ ‐ ‐21.5% ‐ 83.0% 71.5% 4,101.6    ‐ ‐48.2% ‐ 71.6%

Total Industry 4,248.8    9,609.1      13,857.9    ‐ ‐ ‐25.1% ‐ 100.0% 65.2% 5,728.2   ‐ ‐47.8% ‐ 100.0%

Rs. In crores

Company

NBP Based on Total NBP APE Details

F&BC  Page 6  

Total NBP: YTD – Aug ‘11  

     

Individual Group Total RankSBIL 

ahead byY‐O‐Y Growth

Pvt Market Share

Total Market Share

SP % of Total NBP APE

SBIL ahead by

Y‐O‐Y Growth

Pvt Market Share

Total Market Share

SBI Life 983.2         1,065.4     2,048.6      1 ‐          ‐14.3% 21.0% 5.0% 73.2% 698.6          ‐         ‐45.6% 10.4% 3.2%

ICICI Pruden 906.0         596.5         1,502.5      2 546.2      ‐42.0% 15.4% 3.7% 24.7% 1,169.0      (470.5)   ‐53.4% 17.4% 5.3%

HDFC Stand 867.9         265.4         1,133.3      3 915.3      ‐17.4% 11.6% 2.8% 22.7% 902.2          (203.6)   ‐31.9% 13.5% 4.1%

Bajaj Allianz 499.4         218.0         717.5          4 1,331.2   ‐41.8% 7.4% 1.8% 30.7% 519.1          179.5     ‐43.9% 7.7% 2.4%

Max New Yo 617.0         58.2           675.2          5 1,373.5   ‐12.4% 6.9% 1.7% 18.4% 563.6          134.9     ‐17.9% 8.4% 2.6%

Birla Sunlife 462.7         104.9         567.6          6 1,481.0   ‐37.5% 5.8% 1.4% 7.1% 531.2          167.3     ‐40.8% 7.9% 2.4%

Reliance Lif 439.8         69.6           509.4          7 1,539.2   ‐57.8% 5.2% 1.3% 21.2% 412.3          286.2     ‐62.6% 6.1% 1.9%

Other Pvt C 2,026.8     560.0         2,586.7      ‐ ‐ ‐ 26.6% 6.4% ‐ 1,910.7      ‐ ‐ 28.5% 8.7%

Total Privat 6,802.8     2,938.0     9,740.9      ‐ ‐ ‐28.7% 100.0% 24.0% 34.6% 6,706.8      ‐ ‐41.0% 100.0% 30.5%

LIC of India 12,853.9   18,058.4   30,912.3    ‐ ‐ ‐20.9% ‐ 76.0% 56.1% 15,314.9    ‐ ‐17.5% ‐ 69.5%

Total Indust 19,656.7   20,996.4   40,653.2    ‐ ‐ ‐22.9% ‐ 100.0% 50.9% 22,021.6    ‐ ‐26.4% ‐ 100.0%

Company

NBP Based on Total NBP APE Details

Rs. In crores

F&BC  Page 7  

 Total NBP for Companies with Bank Partners ­ Aug ‘11  

    

Individual Group TotalY‐O‐Y Growth

SP % of Total NBP APE

Y‐O‐Y Growth ndividua Group Total

Y‐O‐Y Growth

SP % of Total NBP APE

Y‐O‐Y Growth

SBI Life 284.4         164.9         449.2          ‐47.2% 62.9% 194.9     ‐56.0% 983.2   1,065.4   2,048.6      ‐14.3% 73.2% 698.6        ‐45.6%

ICICI Prudential 228.4         153.3         381.7          ‐36.4% 32.2% 270.9     ‐52.9% 906.0   596.5      1,502.5      ‐42.0% 24.7% 1,169.0     ‐53.4%

HDFC Life 214.3         91.5           305.8          ‐14.8% 29.7% 224.2     ‐35.0% 867.9   265.4      1,133.3      ‐17.4% 22.7% 902.2        ‐31.9%

Max New York 111.7         12.2           123.9          ‐27.6% 20.9% 100.6     ‐32.6% 617.0   58.2        675.2          ‐12.4% 18.4% 563.6        ‐17.9%

Kotak Mahindra O 50.1           20.1           70.2            ‐41.6% 48.9% 39.3       ‐63.1% 208.4   123.5      331.9          ‐24.8% 40.3% 211.5        ‐44.7%

Canara HSBC OBC 41.9           44.9           86.7            0.4% 0.3% 86.5       3.9% 184.9   78.6        263.5          ‐16.2% 0.7% 261.8        ‐13.1%

Star Union Dai_ic 41.0           4.0             45.0            ‐36.4% 56.4% 22.2       ‐28.3% 167.6   26.4        194.0          1.2% 63.9% 82.5          ‐12.1%

Met Life 56.4           4.2             60.6            ‐40.3% 47.8% 34.5       ‐48.7% 178.2   25.8        204.0          ‐20.6% 29.2% 150.4        ‐28.3%

Aviva 31.9           13.5           45.4            ‐53.0% 5.5% 43.2       ‐51.1% 158.1   97.2        255.2          ‐12.8% 6.9% 239.4        ‐13.7%

ING Vysya 52.4           0.1             52.5            ‐11.4% 3.5% 50.8       ‐12.9% 188.8   0.9           189.7          ‐11.0% 5.4% 180.4        ‐13.8%

IndiaFirst 20.2           62.9           83.0            63.6% 18.2% 69.4       154.1% 145.4   73.1        218.6          27.7% 53.9% 112.6        1.9%

IDBI Federal 25.0           1.4             26.4            ‐31.7% 39.2% 17.1       ‐39.9% 97.6      6.2           103.8          ‐23.1% 44.6% 62.1          ‐39.2%

Based on Total NBP APE Details

Rs. In crores

Companies with Bank Partners

FTM YTD

Based on Total NBP APE Details

F&BC  Page 8  

Individual NBP: FTM – Aug ‘11 

 

NBP Rank

% of Total NBP

SBIL ahead by

Y‐O‐Y Growth

Pvt Market Share

Total Market Share

SP % of Individual NBP APE

SBIL ahead by

Y‐O‐Y Growth

Pvt Market Share

Total Market Share

SBI Life 284.4      1 63.3% ‐        ‐41.9% 17.1% 6.7% 47.4% 163.1      ‐      ‐55.7% 12.7% 5.2%

ICICI Prudential 228.4      2 59.8% 55.9      ‐56.8% 13.8% 5.4% 9.3% 209.4      (46.3)   ‐60.3% 16.4% 6.6%

HDFC Standard 214.3      3 70.1% 70.1      ‐35.6% 12.9% 5.0% 8.6% 197.6      (34.6)   ‐38.1% 15.4% 6.3%

Bajaj Allianz 126.9      4 72.8% 157.5   ‐58.1% 7.6% 3.0% 29.4% 93.3        69.7    ‐58.1% 7.3% 3.0%

Birla Sunlife 117.0      5 84.0% 167.4   ‐47.6% 7.0% 2.8% 11.4% 105.0      58.1    ‐52.7% 8.2% 3.3%

Max New York 111.7      6 90.1% 172.7   ‐29.0% 6.7% 2.6% 16.2% 95.4        67.6    ‐31.6% 7.5% 3.0%

Reliance Life 109.5      7 88.4% 174.9   ‐60.7% 6.6% 2.6% 33.7% 76.3        86.8    ‐69.1% 6.0% 2.4%

Other Pvt Cos. 468.2      ‐ ‐ ‐ ‐ 28.2% 11.0% ‐ 340.0      ‐ ‐ 26.6% 10.8%

Total Private 1,660.3   ‐ 70.6% ‐ ‐48.3% 100.0% 39.1% 25.4% 1,280.1   ‐ ‐53.8% 100.0% 40.5%

LIC of India 2,588.5   ‐ 22.5% ‐ ‐65.9% ‐ 60.9% 30.4% 1,880.7   ‐ ‐22.5% ‐ 59.5%

Total Industry 4,248.8   ‐ 30.7% ‐ ‐60.6% ‐ 100.0% 28.5% 3,160.8   ‐ ‐39.2% ‐ 100.0%

Rs. In crores

Company

Individual Business Individual APE Details

F&BC  Page 9  

Individual NBP: YTD – Aug ‘11 

 

 

 

NBP Rank

% of Total NBP

SBIL ahead by

Y‐O‐Y Growth

Pvt Market Share

Total Market Share

SP % of Individual NBP APE

SBIL ahead by

Y‐O‐Y Growth

Pvt Market Share

Total Market Share

SBI Life 983.2         1 48.0% ‐        ‐27.0% 14.5% 5.0% 48.9% 550.6         ‐          ‐47.1% 10.4% 4.0%

ICICI Prudential 906.0         2 60.3% 77.2      ‐56.6% 13.3% 4.6% 14.2% 789.9         (239.3)    ‐62.1% 14.9% 5.7%

HDFC Standard 867.9         3 76.6% 115.3   ‐28.4% 12.8% 4.4% 10.7% 783.9         (233.3)    ‐32.8% 14.8% 5.7%

Max New York 617.0         4 91.4% 366.2   ‐14.2% 9.1% 3.1% 14.4% 537.2         13.4        ‐16.5% 10.1% 3.9%

Bajaj Allianz 499.4         5 69.6% 483.8   ‐53.8% 7.3% 2.5% 29.0% 369.3         181.3     ‐53.9% 7.0% 2.7%

Birla Sunlife 462.7         6 81.5% 520.5   ‐39.6% 6.8% 2.4% 8.3% 428.1         122.5     ‐43.5% 8.1% 3.1%

Reliance Life 439.8         7 86.3% 543.4   ‐60.7% 6.5% 2.2% 19.9% 360.8         189.8     ‐65.0% 6.8% 2.6%

Other Pvt Cos. 2,026.8      ‐ ‐ ‐ ‐ 29.8% 10.3% ‐ 1,488.0     ‐ ‐ 28.0% 10.8%

Total Private 6,802.8      ‐ 69.8% ‐ ‐39.5% 100.0% 34.6% 25.4% 5,307.8     ‐ ‐46.9% 100.0% 38.4%

LIC of India 12,853.9    ‐ 41.6% ‐ ‐47.5% ‐ 65.4% 30.4% 8,529.4     ‐ ‐16.5% ‐ 61.6%

Total Industry 19,656.7    ‐ 48.4% ‐ ‐45.0% ‐ 100.0% 28.5% 13,837.3   ‐ ‐31.5% ‐ 100.0%

Rs. In crores

Company

Individual Business Individual APE Details

F&BC  Page 10  

No. of Policies & Ticket Size: FTM – Aug ‘11   

  Some details for Max New York are not given as there seems to be some discrepancy with the same.    

Rank Total

Proportion of Single Premium

Pvt Mkt Share

Y‐o‐Y Growth Rank Single Regular APE

Y‐o‐Y  Growth in APE average

ICICI Prudential 1 92,551         1.1% 14.6% ‐38.9% 9 212,949    22,640    22,626    ‐35.0%

Bajaj Allianz 2 84,686         4.8% 13.3% ‐38.6% 20 90,965       11,117    11,019    ‐31.8%

SBI Life 3 78,841         14.6% 12.4% ‐21.1% 11 117,363    22,207    20,682    ‐43.9%

Reliance Life 4 71,057         6.0% 11.2% ‐68.2% 21 86,092       10,874    10,738    ‐2.8%

Birla Sunlife 5 65,131         0.4% 10.2% ‐45.3% 15 468,699    15,979    16,114    ‐13.5%

HDFC Standard 6 51,266         12.3% 8.1% ‐22.1% 2 29,351       43,537    38,549    ‐20.5%

Max New York 7 35,665         5.6% ‐44.8% 4 26,243    23.9%

Other Pvt Cos. ‐ 156,326       8.1% 24.6% ‐ ‐ ‐ ‐ ‐ ‐

Private Total ‐ 635,523       6.3% 100.0% ‐43.7% ‐ 105,417    20,789    20,142    ‐17.9%

LIC of India ‐ 2,528,571    4.9% ‐19.4% ‐ 62,964       7,497      7,438       ‐3.8%

Total With LIC ‐ 3,164,094   5.2% ‐25.8% ‐ 73,276      10,136    9,990      ‐18.0%

Company

No. of Policies ‐IndividualAverage Premium ‐  Individual

(in Rs.)

F&BC  Page 11  

 No. of Policies & Ticket Size: YTD – Aug ‘11 

 

  

 

 

Rank Total

Proportion of Single Premium

Pvt Mkt Share

Y‐o‐Y Growth Rank Single Regular APE

Y‐o‐Y  Growth in APE average

ICICI Prudential 1 492,867         1.7% 17.3% ‐19.3% 17 149,875         16,044    16,026    ‐53.0%

Reliance Life 2 371,731         3.4% 13.1% ‐62.8% 22 68,828           9,807      9,707       ‐5.9%

Bajaj Allianz 3 338,811         4.8% 11.9% ‐45.1% 21 89,843           10,995    10,899    ‐15.9%

Birla Sunlife 4 286,978         0.3% 10.1% ‐50.6% 18 457,691         14,829    14,919    14.4%

SBI Life 5 254,009         15.5% 8.9% ‐14.0% 8 122,388         23,403    21,677    ‐38.4%

Max New York 6 212,572         0.2% 7.5% ‐34.7% 5 2,396,654     24,897    25,271    27.8%

HDFC Standard 7 204,391         7.0% 7.2% ‐21.9% 2 65,211           40,750    38,354    ‐14.0%

Other Pvt Cos. ‐ 681,677         7.6% 24.0% ‐ ‐ ‐ ‐ ‐ ‐

Private Total ‐ 2,843,036      5.1% 100.0% ‐39.8% ‐ 115,285         19,051    18,670    ‐11.7%

LIC of India ‐ 10,544,970    7.5% ‐13.9% ‐ 60,722           8,252      8,089       ‐3.1%

Total With LIC ‐ 13,388,006   7.0% ‐25.8% ‐ 69,127           10,593    10,336    ‐13.2%

Company

No. of Policies ‐Individual Average Premium ‐  Individual

(in Rs.)

F&BC  Page 12  

Y­o­Y comparison of market shares: YTD – Aug ‘11  

 

 

 

YTD Aug 11 YTD Aug 10 % Increase YTD Aug  11 YTD Aug  10% 

Increase

SBI Life 21.0% 17.5% 20.2% 5.0% 4.5% 11.2%

ICICI Prudential 15.4% 19.0% ‐18.7% 3.7% 4.9% ‐24.8%

HDFC Standard 11.6% 10.0% 15.9% 2.8% 2.6% 7.2%

Bajaj Allianz 7.4% 9.0% ‐18.4% 1.8% 2.3% ‐24.5%

Max New York 6.9% 5.6% 22.9% 1.7% 1.5% 13.7%

Birla Sunlife 5.8% 6.6% ‐12.3% 1.4% 1.7% ‐18.8%

Reliance Life 5.2% 8.8% ‐40.8% 1.3% 2.3% ‐45.2%

Other Pvt  Cos. 26.6% 23.4% 13.6% 6.4% 6.1% 5.1%

Private  Total 100.0% 100.0% 0.0% 24.0% 25.9% ‐7.5%

LIC of India ‐ ‐ ‐ 76.0% 74.1% 2.6%

Total Industry ‐ ‐ ‐ 100.0% 100.0% 0.0%

InsurerPrivate Mkt Share Total Mkt  Share

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Private Mar

 

ket Share (BBased on FTM  figures of Tottal NBP) 

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rivate Markeet Share (Based on YTD figgures of Total  NBP) 

 

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Private Ma

 

arket Share ((Based on FTMM figures of Inndividual NBP)) 

Page 15

 

F&BC  Page 16  

Private Market Share (Based on YTD figures of Individual NBP)  

  

 

  

 

 

 

9.2% 13.2% 13.2% 13.6% 14.5%

13.7%12.7% 12.8% 13.2% 13.3%

7.6%7.9% 7.3% 7.2% 7.3%

7.7%10.6% 11.9% 12.7% 12.8%5.8%6.2% 6.2% 6.4% 6.5%13.4%10.6% 10.6% 9.8% 9.1%6.2%6.7% 6.9% 6.7% 6.8%

0%

10%

20%

30%

40%

50%

60%

70%

80%

Apr‐11 May‐11 Jun‐11 Jul‐11 Aug‐11

SBI Life ICICI Prudential Bajaj Allianz HDFC Life Reliance Life Max New York Birla Sunlife

F&BC  

 

 

 

 

 

Single Prem

 

 

 

 

mium propoortion in Inddividual Business (Basedd on FTM figgures of Indiividual NBP

Page 17

) 

 

F&BC  

SSingle Premmium proporrtion in Indivvidual Businness (Based 

 

 on YTD figuures of Indivvidual NBP)

Page 18

 

F&BC  Page 19  

M­O­M Business 

 

Rs. In Crores

Company Apr‐11 May‐11 Jun‐11 Jul‐11 Aug‐11 TotalSBI Life 197.0         394.4      297.9     710.1     449.2       2,048.6    ICICI Prudential 296.5         245.6      278.1     300.6     381.7       1,502.5    HDFC Life 104.3         187.3      266.4     269.6     305.8       1,133.3    Bajaj Allianz 92.0           126.8      159.6     164.9     174.2       717.5       Max New York 134.4         109.5      164.3     143.1     123.9       675.2       Reliance Life 73.8           79.6        108.4     123.6     123.9       509.4       Birla Sunlife 66.9           94.7        161.5     105.3     139.2       567.6       Tata AIG 76.6           62.8        75.5       74.3       79.4         368.7       Aegon Religare 8.2             12.1        14.8       16.6       15.3         67.0         Aviva 21.3           31.2        40.7       116.6     45.4         255.2       Bharti Axa Life 9.1             13.6        21.7       14.5       15.0         73.9         Canara HSBC OBC L 44.3           40.8        47.4       44.3       86.7         263.5       DLF Pramerica 7.5             6.0          7.1         7.7         5.8            34.0         Future Generali 14.9           18.5        23.0       24.8       23.8         105.0       IDBI Federal 8.9             9.9          21.8       30.5       26.4         97.6         IndiaFirst 56.3           28.3        19.3       31.7       83.0         218.6       ING Vysya 19.0           30.3        45.6       42.3       52.5         189.7       Kotak Mahindra Ol 44.0           51.7        68.9       97.0       70.2         331.9       Met Life 21.0           31.6        41.7       49.1       60.6         204.0       Sahara Life 1.8             3.3          3.9         5.7         5.1            19.9         Shriram Life 21.7           24.4        37.5       32.8       39.8         156.1       Star Union Dai‐ichi  25.3           33.4        48.9       41.4       45.0         194.0       Edelweiss ‐             ‐          ‐         ‐         0.2            0.2           Total Pvt Players 1,344.6     1,635.8   1,954.1 2,446.5 2,352.3    9,733.3    LIC 3,718.8     5,554.3   4,068.9 6,064.7 11,505.6  30,912.3  Total Industry 5,063.4     7,190.1   6,023.0 8,511.2 13,857.9 40,645.6