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Life insurance companies in India reported new business premium increased 8.43% year on year to ₹21,965.73 crore in April.
The increase in the premium came even as the number of policies sold by the life insurers declined 13.24% to 11,45,992 (13,20,870). The decline for LIC was 15.26% at 7,25,571 (8,56,279). The number of policies sold by private players was 9.51% lower at 4,20,421 (4,64,591).
The companies had mobilised ₹20,258.86 crore in the year earlier, the new business premium numbers released by the Life Insurance Council showed.
Market leader, State-owned Life Insurance Corporation of India (LIC) fared better than the private players, clocking a 9.91% increase in the new business to ₹13,610.63 crore (₹12,383.64 crore).
Private life insurers posted 6.09% increase in the premium to ₹8,355.10 crore (₹7,875.22 crore).
Together, the 27 life insurers in last fiscal reported a 5.13% increase in new business premium to ₹3,97,336.78 crore (₹3,77,960.34 crore). For March, the increase was 2% to ₹61,439.11 crore (₹60,213.62 crore).
Published – May 13, 2025 09:18 pm IST
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