BUZZ-Indian life insurers see strong APE growth in Feb - analysts

Reuters03-11

** Jefferies says life insurance retail Annual Premium Equivalent $(APE)$ growth improved grew 18% Y/Y in Feb on lower base, rising share of Unit Linked Insurance Plans (ULIP)

** Adds, however, rise in lower-margin ULIPs could slow down value for new business (VNB) growth

** APE is a key performance metric for life insurers

** Kotak Instiutional Equities says Feb was a strong month for large insurers as they gear up for fiscal year-end and likely gaining share from smaller players

** Adds, HDFC Life Insurance Co , ICICI Prudential Life Insurance Co and SBI Life Insurance Co reported 25%, 35%, 28% APE growth in Feb Y/Y

** Yes Securities says Max Life Insurance Co reported fastest APE growth in Feb at 35%, outpacing listed peers

** Adds, APE of Life Insurance Corp of India - country's largest insurer - grew 13% Y/Y, lagging private sector growth, which was at 20%

** HDFL and LIFI shares down 0.3 and 0.5%, while ICIR and SBIL up 0.5 and 1.7%

(Reporting by Dimpal Gulwani in Bengaluru)

((dimpal.gulwani@thomsonreuters.com))

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