Life insurers in focus: LIC reports steepest fall in August premium, Max Financial shares hit 52-week high on robust biz
life insurance companies trade mixed on Thursday, August 7 after the insurers reported their August business premiums. Leading general life insurers including Max Financial Services, ICICI Prudential Life Insurance, SBI Life Insurance, and Life Insurance Corp of India (LIC) were in focus during today's session.
Max Financial Services, the holding company for Max Life Insurance, reported the strongest growth with a 35.6 percent year-on-year (YoY) surge in new business premiums in August. Shares of Max Financial rose 2 per cent to hit a fresh 52-week high at ₹951.10 apiece on the BSE after the business update was announced.
The insurer settled 0.61 per cent higher at ₹937.50 apiece on the BSE. On the other hand, Life Insurance Corp of India (LIC) reported the steepest fall in premiums, down 34.7 YoY in August.
Shares of LIC fell 2 per cent during the session and settled 0.29 per cent lower at ₹676 apiece on the BSE. MORE TO COME…Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
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