Driven by new individual premium income, the life insurance industry has begun FY19 on an healthy note, with 4.6% growth in new business premium at ₹7,280 crore in April, according to data from the industry lobby, Life Insurance Council.
As of end April, total individual new business of the industry rose 7.32%to ₹3,881.61 crore, the council said.
As against this, new group business income grew at a much lower pace of 1.60% during the reporting month at ₹3,398.35 crore over the previous 12 months period.
