The growth in the insurance sector witnessed during August-October reversed in November as the industry reported Annual Premium Equivalent (APE) degrowth of 44.4 per cent last month, said a report by Emkay Global Financial Services.
It was the first month of decline since July, it said.
“The improvement witnessed in August-October 2020, after the unlocking, fizzled out in November 2020 as the industry reported APE degrowth of 44.4 per cent YoY,” it said.The de-growth can be largely attributed to the 62.6 per cent year-on-year (YoY) APE degrowth for LIC.