Life insurance companies recorded flat growth in policy sales in the financial year 2018-19 but new premium incomes headed north, indicating a sharp rise in ticket size.
In the year ended March 31, 2019, new business income grew 10.73% from a year ago to Rs 2.1 lakh crore, according to data released by the Insurance Regulatory and Development Authority (Irdai). Life Insurance Corporation’s premiums grew 5.68%, while its private peers together logged 22% growth.
