LIC new premium more than doubles in June; pushes industry collection to Rs 32,241 crore
Led by LIC, life insurers’ collective new premium income jumped 94 percent to Rs 32,241.33 crore in June this year, according to data from Insurance Regulatory and Development Authority.
All the 24 life insurers had written new gross premium of Rs 16,611.57 in the same month a year ago.
The country’s largest life insurer LIC, which is the only state-owned life insurance firm, witnessed more than two-fold rise in its new premium collection to Rs 26,030.16 crore in June, from Rs 11,167.82 crore in the same period last year.
Source : Money Control