The life insurance industry recorded a 14.2% year-on-year increase in premiums at ₹31,823 crore in July, compared with ₹27,867 crore in the same month last year. The growth was primarily driven by a strong growth in premiums of Life Insurance Corporation (LIC).
LIC’s premiums surged 20% year-on-year, totalling ₹18,431 crore, compared with ₹15,387 crore in July 2023. According to data from the Life Insurance Council, LIC痴 new business premium collection for the first four months of FY25 rose 26% to ₹75,872 crore, against ₹60,224 crore during the year-ago period.
