INSURANCE
Life Insurers’ new premium income surges 15% in September: IRDAI
Oct-14-2019

The Insurance Regulatory and Development Authority of India (IRDAI) in its latest data has showed that the new premium income of life insurers rose 15 percent to Rs 20,056.70 crore in September 2019 as compared to Rs 17,490.68 crore in September 2018.  Cumulatively, insurance premium of all 24 players grew 35.11 percent during April-September period of the current fiscal to Rs 125,758.11 crore.

Of the all 24 life insurance companies, state-owned LIC recorded 18.37 percent rise in its new premium during the month at Rs 12,759.24 crore as against Rs 10,778.81 crore in the same month a year earlier. The rest of the private sector players had a total new premium income of Rs 7,297.46 crore during the month, an increase of nearly 9 percent from a year ago.

The new premium collected by LIC in the first six months of 2019-20 jumped 42 percent to Rs 89,980.22 crore. For the rest of private sector players, the cumulative premium till September rose by 21 percent to Rs 35,777.89 crore.

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