New business premiums for the life insurance industry witnessed a growth of 26% in September at Rs 25,366.3 crore, compared with Rs 20,056.7 crore in the same month last year. However, the growth of new premiums for the six months of the current financial year continued to remain negative. Data from the Life Insurance Council show that up to September this fiscal, life insurance companies saw new business premiums of Rs 1,24,728 crore, compared with Rs 1,25,758 crore in previous financial year, a fall of 0.82%.
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