NEW DELHI: Life insurers register 15 % rise in new business premium at Rs.24,916 crore in October. According to knowledge from the Life Insurance Council, the new business premium earnings of India’s life insurance firms elevated by 15.3 % to Rs 24,916.58 crore in October 2022. In the identical month a yr in the past, all 24 life insurers earned a mixed Rs 21,606.25 crore in new business premium earnings (October 2021).
The largest and solely state-owned life insurer in the nation, Life Insuracne Corporation of India Limited (LIC), noticed an 18 % enhance in new business premium throughout the month in comparison with the identical interval final yr, coming in at Rs 15,920.13 crore.
The cumulative new business premium for the remaining 23 non-public sector companies elevated by 11 % to Rs 8,996.45 crore from Rs 8,105.46 crore in October 2021. 00:14 According to the info, all 24 gamers skilled a 35 % growth in new business premium earnings between April and October of 2022–23, totaling Rs 2,06,893.51 crore versus Rs 1,53,588.14 crore throughout the identical interval in 2021–22.
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