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

Listen to this article

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.

Like what you are reading?

Login to get instant access to this article and many other such articles on business development, success stories and industry updates.

Don't worry ... it's FREE!

Have a query or a doubt?
Need a clarification or more information on an issue?
Cafemutual welcomes all mutual fund and insurance related questions. So write in to us at newsdesk@cafemutual.com

Latest Articles

Which general insurers are brokers favorites?

Max Life is now Axis Max Life

Huge difference in claim settled and claim amount paid in non life industry

Govt. to appoint 2 lakh women agents through LIC India

Govt proposes stringent penalty on insurers and intermediaries for mis-selling

Soon, insurance agents can work with multiple insurers

Insurance industry to become Rs.930 lakh crore industry by 2047: BCG Group

Delay in commission payout and lack of transparency are two major pain points of insurance agents

Insurance industry to become Rs.930 lakh crore industry by 2047: BCG Group

Life insurers bats for same day commission payment to agents/intermediaries

Click to clap

Disclaimer: Cafemutual is an industry platform of mutual fund professionals. Our visitors are requested to maintain the decorum of the platform when expressing their thoughts and commenting on articles. Viewers are advised to refrain from making defamatory allegations against individuals. Those making abusive language or defamatory allegations will be blocked from accessing the web site.

0 Comment

Be the first to comment.

More than 2,07,000 of your industry peers are staying on top of their game by receiving daily tips, ideas and articles on growth strategies. Join them and stay updated by subscribing to Cafemutual newsletters.

Fill in the below details or write to newsdesk@cafemutual.com and subscribe to Cafemutual Newsletter now.

POLL

MORE POLLS

As regards Portfolio Management Services (PMS), what is your status

Actively selling PMS

Not selling PMS but considering it seriously

Not selling PMS and not considering it either

EVENTS FORUMS