F&BC  Page 1  

New Business MIS Based on IRDA Published Figures 

June 2011 

 

 

 

 

   

F&BC  Page 2  

Table of Contents Glossary  2 

Executive Summary  3 

Total NBP: FTM – June ‘11  4 

Total NBP: YTD – June ‘11  5 

Total NBP for Companies with Bank Partners: June ‘11  6 

Individual NBP: FTM – June ‘11  7 

Individual NBP: YTD – June ‘11  8 

Y‐o‐Y comparison of market shares: YTD – June ‘11  9 

Private Market Share (Based on FTM figures of Total NBP)  10 

Private Market Share (Based on YTD figures of Total NBP)  11 

Private Market Share (Based on FTM figures of Individual NBP)  12 

Private Market Share (Based on YTD figures of Individual NBP)  13 

Single Premium proportion in Individual Business (Based on FTM figures of Individual NBP)  14 

M‐O‐M Business  16 

 

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 3  

Executive Summary 

On FTM Basis: • Total NBP for Overall industry has shown Y‐o‐Y negative growth of ‐47.9% and Private Sector NBP has shown negative growth of ‐32.6% 

• In terms of Total NBP, SBI Life ranks #1 amongst the private players with a private market share of 15.2% & total market share of 4.9% though it shows a negative Y‐O‐Y growth of ‐14.5%. 

• In terms of Total NBP, only Star Union Dai‐ichi and DLF Prameria have shown a positive Y‐o‐Y growth of +36.4% and +17.5% respectively. 

• In terms of Total APE ICICI Prudential ranks #1 with a private market share of 16.1% & total market share of 6.4%. Whereas SBI Life ranks #5 for the same. 

• For LIC of India, NBP has shown negative growth of ‐53.0% & has a market share of 67.6%. 

On YTD Basis: 

•  Both Overall industry and Private Industry have shown Y‐o‐Y negative growth of ‐28.4% and ‐27.1% respectively. 

• In  terms of Total NBP, SBI Life ranks #1 amongst  the private players with a private market share of 18.0% &  total market share of 4.9% though it shows a negative Y‐O‐Y growth of ‐8.9%. 

• In  terms of Total NBP, only  Star Union Dai‐ichi  (+44.5%) DLF Prameria  (+33.4%), Aegon Religare  (+2.8%)  and  India  First  (+18.8%) have shown a positive Y‐o‐Y growth. 

• In terms of Total APE,  ICICI Prudential  is #1 Rank amongst private  insurers with a Private Market share of 18.5% and 6.0%  in the overall industry. SBI Life stands at 9.0% and 2.9% respectively. 

• For LIC of India, NBP has shown negative growth of ‐28.8% & has a market share of 73.0%. 

For Top 7 Players: 

• All 7 players have shown a negative Y‐O‐Y growth 

• In terms of business mix, Max New York has the highest share of Individual to Total New Business at 92.2%. SBI Life has the lowest at only 53.0%. 

For Companies with Bank Partners: 

• Only Star Union Dai‐ichi has shown positive growth in all respect, 

o FTM: NBP Y‐o‐Y growth +36.4%, APE Y‐o‐Y growth +11.7% 

o YTD: NBP Y‐o‐Y growth +44.5%, APE Y‐o‐Y growth +14.7% 

• All other  companies  (except  India  First  showing +18.8% Y‐o‐Y  growth  in  terms of YTD NBP) have  shown  a negative Y‐O‐Y  growth  in  all aspects 

F&BC  Page 4  

Total NBP: FTM – June ‘11  

 

• For SBI Life, SP% is substantially high (65.8%) compared to other top players. 

• In terms of Total APE, SBI Life has shown a significant de‐growth of ‐395.1%. 

Individual Group Total Rank

SBIL ahead by

Y‐O‐Y Growth

Pvt Market Share

Total Market Share

SP % of Total NBP APE Rank

SBIL ahead by

Y‐O‐Y Growth

Pvt Market Share

Total Market Share

SBI Life 193.5        104.4       297.9      1 ‐        ‐14.5% 15.2% 4.9% 65.8% 121.4      5 ‐        ‐395.1% 8.5% 3.4%

ICICI Prudential 189.4        88.7         278.1      2 19.8      ‐56.8% 14.2% 4.6% 19.0% 230.7      1 (109.2)   ‐63.3% 16.1% 6.4%

HDFC Life 201.9        64.5         266.4      3 31.6      ‐16.1% 13.6% 4.4% 24.3% 208.2      2 (86.7)     ‐31.8% 14.5% 5.8%

Max New York 153.2        11.0         164.3      4 133.7   ‐12.7% 8.4% 2.7% 18.7% 136.6      4 (15.2)     ‐16.1% 9.5% 3.8%

Birla Sunlife 106.8        54.8         161.5      5 136.4   ‐28.5% 8.3% 2.7% 7.2% 151.0      3 (29.6)     ‐32.8% 10.5% 4.2%

Bajaj Allianz 96.9           62.7         159.6      6 138.3   ‐30.3% 8.2% 2.7% 35.2% 109.1      6 12.3      ‐32.6% 7.6% 3.0%

Reliance Life 91.6           16.9         108.4      7 189.5   ‐62.3% 5.5% 1.8% 14.4% 94.4        7 27.1      ‐65.5% 6.6% 2.6%

Other Pvt Cos. 425.0        92.9         517.8      ‐ ‐ ‐ 26.5% 8.6% ‐ 380.2      ‐ ‐ ‐ 26.6% 10.6%

Total Private 1,458.3     495.8       1,954.1   ‐ ‐ ‐32.6% 100.0% 32.4% 29.7% 1431.6 ‐ ‐ ‐36.9% 100.0% 39.9%

LIC of India 2,376.2     1,692.7    4,068.9   ‐ ‐ ‐53.0% ‐ 67.6% 52.1% 2,159.8   ‐ ‐ ‐40.7% ‐ 60.1%

Total Industry 3,834.5     2,188.5    6,023.0   ‐ ‐ ‐47.9% ‐ 100.0% 44.9% 3,591.4  ‐ ‐ ‐39.2% ‐ 100.0%

Rs. In crores

Company

NBP Based on Total NBP APE Details

F&BC  Page 5  

Total NBP: YTD – June ‘11  

 • For SBI Life, SP% is substantially high (71.8%) compared to other top players.  

Individual Group Total Rank

SBIL ahead by

Y‐O‐Y Growth

Pvt Market Share

Total Market Share

SP % of Total NBP APE Rank

SBIL ahead by

Y‐O‐Y Growth

Pvt Market Share

Total Market Share

SBI Life 471.7        417.6       889.3        1 ‐        ‐8.9% 18.0% 4.9% 71.8% 314.9        4 ‐        ‐40.3% 9.0% 2.9%

ICICI Prudential 456.9        363.3       820.2        2 69.1      ‐41.7% 16.6% 4.5% 23.2% 649.2        1 (334.2)   ‐52.4% 18.5% 6.0%

HDFC Life 424.3        133.6       557.9        3 331.3   ‐22.3% 11.3% 3.1% 21.8% 448.6        2 (133.7)   ‐35.3% 12.8% 4.1%

Max New York 376.3        31.8         408.1        4 481.2   ‐11.4% 8.3% 2.2% 17.9% 342.3        3 (27.4)     ‐16.6% 9.8% 3.1%

Bajaj Allianz 261.9        116.5       378.4        5 510.9   ‐37.2% 7.7% 2.1% 31.1% 272.6        6 42.3      ‐39.4% 7.8% 2.5%

Birla Sunlife 247.5        75.6         323.1        6 566.2   ‐31.8% 6.5% 1.8% 5.6% 307.0        5 8.0        ‐34.3% 8.8% 2.8%

Reliance Life 221.9        39.9         261.9        7 627.4   ‐56.7% 5.3% 1.4% 11.9% 233.7        7 81.2      ‐58.8% 6.7% 2.1%

Other Pvt Cos. 1,104.5     197.5       1,302.0     ‐ ‐ ‐ 26.4% 7.1% ‐ 934.8        ‐ ‐ ‐ 26.7% 8.6%

Total Private 3,565.1     1,375.8    4,940.9     ‐ ‐ ‐27.1% 100.0% 27.0% 32.3% 3,503.1     ‐ ‐ ‐39.5% 100.0% 32.2%

LIC of India 7,401.7     5,940.2    13,342.0   ‐ ‐ ‐28.8% ‐ 73.0% 49.6% 7,382.1     ‐ ‐ ‐11.0% ‐ 67.8%

Total Industry 10,966.8   7,316.0    18,282.9  ‐ ‐ ‐28.4% ‐ 100.0% 45.0% 10,885.2  ‐ ‐ ‐22.7% ‐ 100.0%

Rs. In crores

Company

NBP Based on Total NBP APE Details

F&BC  Page 6  

Total NBP for Companies with Bank Partners: June ‘11  

    

Individual Group TotalY‐O‐Y Growth

SP % of Total NBP APE

Y‐O‐Y Growth Individual Group Total

Y‐O‐Y Growth

SP % of Total NBP APE

Y‐O‐Y Growth

SBI Life 193.5        104.4   297.9  ‐14.5% 65.8% 121.4   ‐395.1% 471.7      417.6  889.3   ‐8.9% 71.8% 314.9   ‐40.3%

ICICI Prudential 189.4        88.7     278.1  ‐56.8% 19.0% 230.7   ‐63.3% 456.9      363.3  820.2   ‐41.7% 23.2% 649.2   ‐52.4%

HDFC Life 201.9        64.5     266.4  ‐16.1% 24.3% 208.2   ‐31.8% 424.3      133.6  557.9   ‐22.3% 21.8% 448.6   ‐35.3%

Max New York 153.2        11.0     164.3  ‐12.7% 18.7% 136.6   ‐16.1% 376.3      31.8     408.1   ‐11.4% 17.9% 342.3   ‐16.6%

Kotak Mahindra O 45.9           23.1     68.9     ‐37.3% 43.5% 42.0     ‐56.6% 105.0      59.7     164.7   ‐27.6% 39.6% 106.0   ‐45.6%

Canara HSBC OBC 30.1           17.3     47.4     ‐25.2% 0.7% 47.1     ‐21.5% 110.9      21.6     132.5   ‐14.6% 0.8% 131.5   ‐10.9%

Star Union Dai_ich 40.5           8.4        48.9     36.4% 61.2% 22.0     11.7% 92.3        15.3     107.6   44.5% 66.5% 43.2     14.7%

Met Life 38.3           3.4        41.7     ‐4.8% 28.7% 30.9     ‐23.6% 80.9        13.4     94.3     ‐16.0% 19.0% 78.2     ‐24.2%

Aviva 37.1           3.6        40.7     ‐36.6% 7.6% 37.9     ‐40.4% 83.5        9.7       93.2     ‐31.4% 12.0% 83.2     ‐37.3%

ING Vysya 45.3           0.3        45.6     ‐15.2% 6.3% 43.0     ‐18.6% 94.2        0.7       94.9     ‐16.2% 6.7% 89.1     ‐19.7%

IndiaFirst 16.3           3.0        19.3     ‐25.7% 64.7% 8.0        ‐49.1% 96.6        7.2       103.8   18.8% 77.6% 31.3     ‐50.9%

IDBI Federal 20.4           1.4        21.8     ‐17.0% 43.5% 13.3     ‐32.1% 43.7        3.1       46.9     ‐27.0% 41.6% 29.3     ‐39.5%

Rs. In crores

Companies with Bank Partners

FTM YTD

Based on Total NBP APE Details Based on Total NBP APE Details

F&BC  Page 7  

Individual NBP: FTM – June ‘11 

 

• HDFC Life ranks #1 on both Individual NBP & Individual APE basis. 

NBP Rank

% of Total NBP

SBIL ahead by

Y‐O‐Y Growth

Pvt Market Share

Total Market Share

SP % of Individual NBP APE Rank

SBIL ahead by

Y‐O‐Y Growth

Pvt Market Share

Total Market Share

HDFC Life 201.9       1 75.8% (8.3)      ‐30.0% 13.8% 5.3% 11.0% 181.9        1 (77.2)   ‐34.3% 15.9% 6.2%

SBI Life 193.5       2 65.0% ‐       ‐19.8% 13.3% 5.0% 51.0% 104.7        4 ‐       ‐42.9% 9.1% 3.6%

ICICI Prudential 189.4       3 68.1% 4.1       ‐62.9% 13.0% 4.9% 14.0% 165.6        2 (60.9)   ‐67.5% 14.4% 5.7%

Max New York 153.2       4 93.3% 40.3     ‐13.7% 10.5% 4.0% 14.7% 132.9        3 (28.3)   ‐13.9% 11.6% 4.6%

Birla Sunlife 106.8       5 66.1% 86.8     ‐49.3% 7.3% 2.8% 10.4% 96.8          5 7.9       ‐53.9% 8.4% 3.3%

Bajaj Allianz 96.9         6 60.7% 96.6     ‐52.6% 6.6% 2.5% 40.7% 61.4          7 43.3     ‐57.3% 5.4% 2.1%

Reliance Life 91.6         7 84.4% 102.0  ‐65.3% 6.3% 2.4% 14.1% 80.0          6 24.7     ‐68.3% 7.0% 2.7%

Other Pvt Cos. 425.0       ‐ ‐ ‐ ‐ 29.1% 11.1% ‐ 323.5        ‐ ‐ ‐ 28.2% 11.1%

Total Private 1,458.3   ‐ 74.6% ‐ ‐41.5% 100.0% 38.0% 23.7% 1,146.7    ‐ ‐ ‐48.9% 100.0% 39.3%

LIC of India 2,376.2    ‐ 58.4% ‐ ‐57.9% ‐ 62.0% 28.3% 1,771.8    ‐ ‐ ‐16.7% ‐ 60.7%

Total Industry 3,834.5   ‐ 63.7% ‐ ‐52.8% ‐ 100.0% 26.5% 2,918.6    ‐ ‐ ‐33.2% ‐ 100.0%

Rs. In crores

Company

Individual Business Individual APE Details

F&BC  Page 8  

Individual NBP: YTD – June ‘11 

 

• ICICI Prudential ranks# 1 in terms of APE, but with highest de‐growth of 64.1%.  

   

NBP Rank

% of Total NBP

SBIL ahead by

Y‐O‐Y Growth

Pvt Market Share

Total Market Share

SP % of Individual 

NBP APE Rank

SBIL ahead by

Y‐O‐Y Growth

Pvt Market Share

Total Market Share

SBI Life 471.7         1 53.0% ‐       ‐10.5% 13.2% 4.3% 51.3% 253.9      4 ‐        ‐38.9% 9.2% 3.4%

ICICI Prudential 456.9         2 55.7% 14.8     ‐57.0% 12.8% 4.2% 18.7% 380.1      1 (126.1)   ‐64.1% 13.7% 5.1%

HDFC Life 424.3         3 76.0% 47.4     ‐30.8% 11.9% 3.9% 12.8% 375.2      2 (121.3)   ‐36.5% 13.5% 5.1%

Max New York 376.3         4 92.2% 95.4     ‐12.5% 10.6% 3.4% 13.9% 329.2      3 (75.2)     ‐14.2% 11.9% 4.4%

Bajaj Allianz 261.9         5 69.2% 209.9  ‐51.3% 7.3% 2.4% 29.8% 191.7      7 62.2      ‐52.1% 6.9% 2.6%

Birla Sunlife 247.5         6 76.6% 224.2  ‐38.0% 6.9% 2.3% 6.7% 232.5      5 21.4      ‐40.9% 8.4% 3.1%

Reliance Life 221.9         7 84.7% 249.8  ‐60.8% 6.2% 2.0% 11.5% 198.9      6 55.1      ‐62.7% 7.2% 2.7%

Other Pvt Cos. 1,104.5     ‐ ‐ ‐ ‐ 31.0% 10.1% ‐ 813.2      ‐ ‐ ‐ 29.3% 10.9%

Total Private 3,565.1     ‐ 72.2% ‐ ‐35.5% 100.0% 32.5% 23.7% 2,774.8  ‐ ‐ ‐44.4% 100.0% 37.4%

LIC of India 7,401.7     ‐ 55.5% ‐ ‐42.5% ‐ 67.5% 28.3% 4,653.5   ‐ ‐ ‐19.7% ‐ 62.6%

Total Industry 10,966.8   ‐ 60.0% ‐ ‐40.4% ‐ 100.0% 26.5% 7,428.3  ‐ ‐ ‐31.2% ‐ 100.0%

Company

Individual Business Individual APE Details

Rs. In crores

F&BC  Page 9  

Y­o­Y comparison of market shares: YTD – June ‘11  

 

 

 

YTD June 11

YTD June 10

% Increase

YTD June 11

YTD June 10

% Increase

SBI Life 18.00% 14.40% 25.03% 4.86% 3.83% 27.16%

ICICI Prudential 16.60% 20.74% ‐19.97% 4.49% 5.51% ‐18.61%

HDFC Life 11.29% 10.59% 6.61% 3.05% 2.81% 8.42%

Max New York 8.26% 6.79% 21.64% 2.23% 1.80% 23.71%

Bajaj Allianz 7.66% 8.89% ‐13.83% 2.07% 2.36% ‐12.36%

Birla Sunlife 6.54% 6.99% ‐6.43% 1.77% 1.86% ‐4.84%

Reliance Life 5.30% 8.92% ‐40.60% 1.43% 2.37% ‐39.59%

Other Pvt Cos. 26.35% 22.68% 16.19% 7.12% 6.03% 18.17%

Private Total 100.00% 100.00% 0.00% 27.02% 26.57% 1.70%

LIC of India ‐ ‐ ‐ 72.98% 73.43% ‐0.62%

Total Industry ‐ ‐ ‐ 100.00% 100.00% 0.00%

Private Mkt Share Total Mkt ShareInsurer

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 Priv

 

 

 

 

 

 

 

vate Market  Share (Basedd on FTM figurres of Total NBBP) 

Page 10

 

F&BC  

Priva 

 

 

 

 

 

 

ate Market Shhare (Based o on YTD figurees of Total NBPP) 

Page 11

 

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Pr 

  

 

 

 

 

ivate Markeet Share (Bassed on FTM figgures of Individual NBP) 

Page 12

 

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Pr 

 

 

  

 

 

 

ivate Markeet Share (Bassed on YTD figures of Individdual NBP) 

Page 13

 

F&BC  Page 14  

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

 

 

 

 

 

 

44%

23%

13% 16%

6%

13%

4%

55%

21%

31%

14%

12% 14%

4%

51%

14%

41%

11% 14%

15%

10%

SBI Life ICICI Prudential

Bajaj Allianz

HDFC Life Reliance Life

Max New York

Birla Sunlife

Apr‐11 May‐11 Jun‐11

F&BC  Page 15  

Single Premium proportion in Individual Business (Based on YTD figures of Individual NBP) 

 

 

44%

23%

13% 16%

6%

13%

4%

51%

22%

23%

15%

10% 13%

4%

51%

19%

30%

13%

12% 14%

7%

SBI Life ICICI Prudential

Bajaj Allianz

HDFC Life Reliance Life

Max New York

Birla Sunlife

Apr‐11 May‐11 Jun‐11

F&BC  Page 16  

M­O­M Business 

 

Rs. In Crores

Company Apr‐11 May‐11 Jun‐11 TotalSBI Life 197.0       394.4     297.9     889.3        ICICI Prudential 296.5       245.6     278.1     820.2        HDFC Life 104.3       187.3     266.4     557.9        Bajaj Allianz 92.0         126.8     159.6     378.4        Max New York 134.4       109.5     164.3     408.1        Reliance Life 73.8         79.6       108.4     261.9        Birla Sunlife 66.9         94.7       161.5     323.1        Tata AIG 76.6         62.8       75.5       214.9        Aegon Religare 8.2           12.1       14.8       35.1          Aviva 21.3         31.2       40.7       93.2          Bharti Axa Life 9.1           13.6       21.7       44.4          Canara HSBC OBC Life 44.3         40.8       47.4       132.5        DLF Pramerica 7.5           6.0         7.1         20.5          Future Generali 14.9         18.5       23.0       56.3          IDBI Federal 8.9           9.9         21.8       40.6          IndiaFirst 56.3         28.3       19.3       103.8        ING Vysya 19.0         30.3       45.6       94.9          Kotak Mahindra Old Mutual 44.0         51.7       68.9       164.7        Met Life 21.0         31.6       41.7       94.3          Sahara Life 1.8           3.3         3.9         9.1              Shriram Life 21.7         24.4       37.5       83.5          Star Union Dai‐ichi  25.3         33.4       48.9       107.6        Total Pvt Players 1,344.6    1,635.8 1,954.1 4,934.5     LIC 3,718.8    5,554.3 4,068.9 13,342.0  Total Industry 5,063.4    7,190.1 6,023.0 18,276.4