Life insurance companies reported an 18 per cent year-on-year (YoY) growth in new business premia in August, despite a large base, because of healthy growth in premia of private sector insurers.
The data put out by the Life Insurance Council shows life insurer’s reported new business premia (NBP) to the tune of Rs 32,856.38 crore in August. While private sector insurers’ NBP increased by 24 per cent to Rs 10,974.25 crore, Life Insurance Corporation (LIC) NBP rose 15 per cent to Rs 21,882 crore.
