Life insurance coverage corporations logged practically 45 per cent progress of their cumulative new enterprise premium at Rs 9,738.79 crore in April 2021, Irdai information confirmed on Friday.
All 24 life insurers had collected Rs 6,727.74 crore as new enterprise premium throughout the identical month a yr in the past.
The most important insurer, state-owned LIC posted 35.6 per cent rise within the first yr premium or new enterprise premium at Rs 4,856.76 crore in April 2021, as towards Rs 3,581.65 crore within the year-ago month, the Insurance coverage Regulatory and Improvement Authority of India (Irdai) mentioned.
The remainder of the personal sector gamers witnessed over 55 per cent soar of their mixed new enterprise premium at Rs 4,882.04 crore. Their collective first yr premium was Rs 3,146.09 crore in April 2020.
LIC instructions the most important market share of 49.87 per cent, whereas the remainder of 23 personal gamers have the remaining 50.13 per cent.
There was 140 per cent soar by way of variety of insurance policies/schemes at 9,96,933 in April this yr by all of the 24 gamers.
Of this, LIC witnessed 275 per cent enhance on the yr at 6,92,185; whereas the personal gamers’ witnessed 32 per cent rise at 3,04,748 of their collective insurance policies/schemes in the course of the reported month.
(Solely the headline and movie of this report might have been reworked by the Enterprise Customary employees; the remainder of the content material is auto-generated from a syndicated feed.)
Pricey Reader,
Enterprise Customary has all the time strived arduous to offer up-to-date info and commentary on developments which can be of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on the way to enhance our providing have solely made our resolve and dedication to those beliefs stronger. Even throughout these tough instances arising out of Covid-19, we proceed to stay dedicated to preserving you knowledgeable and up to date with credible information, authoritative views and incisive commentary on topical problems with relevance.
We, nonetheless, have a request.
As we battle the financial impression of the pandemic, we’d like your assist much more, in order that we will proceed to give you extra high quality content material. Our subscription mannequin has seen an encouraging response from a lot of you, who’ve subscribed to our on-line content material. Extra subscription to our on-line content material can solely assist us obtain the objectives of providing you even higher and extra related content material. We imagine in free, truthful and credible journalism. Your assist via extra subscriptions might help us practise the journalism to which we’re dedicated.
Assist high quality journalism and subscribe to Enterprise Customary.
Digital Editor
https://www.business-standard.com/article/pf/life-insurers-new-business-premium-up-45-pc-at-rs-9-739-cr-in-april-121050701153_1.html
