MF News Falling premiums at LIC drag life insurers' income down by 30%

Falling premiums at LIC drag life insurers' income down by 30%

Source: ET May 18, 2023

The life insurance industry reported a 30% decline in premium income in April on a year-on-year basis, mainly due to the decrease in premium income by the state-owned Life Insurance Corporation of India (LIC). The private sector life insurance industry, on the other hand, reported an 8.55% increase in total new premium income.

According to the data released by the Life Insurance Council, the industry collected a new business premium of ₹12,565 crore in April 2023 compared with ₹17,939 cro ..
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