Economy

‘New premium income of life insurers rises 42%’

The new premium income of life insurance companies jumped by almost 42% to ₹27,177.26 crore in November, data from regulator IRDAI showed on Tuesday.

The insurance behemoth LIC — the only state-owned life insurer in the country — witnessed a more than 32% rise in the first-year business premium in November at Rs 15,967.51 crore.

The remaining players belonging to the private sector registered a spike of 58.6% in their collective first-year premium income at ₹11,209.75 crore.

LIC held the largest share at 63.4%.

Among private players, SBI Life had the highest share at 8.77%, followed by HDFC Life at 7.86%; ICICI Prudential Life 4.91%; Max Life 2.36% and Bajaj Allianz Life at 2.62%.


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Printable version | Jan 27, 2022 5:06:13 PM | https://www.thehindu.com/business/Economy/new-premium-income-of-life-insurers-rises-42/article37889197.ece

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