Insurance Life insurance AUM reaches Rs.68 lakh crore: IRDAI

Life insurance AUM reaches Rs.68 lakh crore: IRDAI

The insurance regulator gives highlights of the business performance of the insurance industry.

Nishant Patnaik Nov 8, 2024

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IRDAI said that the AUM of life insurance companies has reached Rs.68 lakh crore in March 2024.

The AUM of the life insurance industry has increased from Rs.60 lakh crore, indicating a growth of 13% in one year.

In terms of total premium collection including new business premium and renewal premium, the life industry received Rs.11.17 lakh crore in FY 2024 by registering 7.5% growth.

On the other hand, the general insurance industry received a premium of Rs.2.60 lakh crore till June 2024.

The insurance regulator also said that the insurance industry witnessed foreign direct investment of Rs.87,900 crore till June 2024 with insurers bringing in Rs.67,000 crore, reinsurers Rs.15,820 crore and intermediaries Rs.5000 crore.

The paid up capital margins also increased to Rs.95,000 crore in FY 2024, said IRDAI.

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