Life insurers report 4% rise in new yr premium in June at Rs 30,009 crore

The new premium revenue of life insurance coverage firms rose almost 4 per cent to Rs 30,009.48 crore in June this yr, knowledge from Irdai confirmed.
All the life insurance coverage firms had collected first yr or the brand new enterprise premium revenue price Rs 28,868.68 crore in the identical month a yr in the past.
There are whole 24 life insurance coverage firms within the nation. Of these, the nation’s largest and the one state-owned insurer Life Insurance Corporation of India (LIC) reported 4.14 per cent fall in new premium revenue in June 2021 at Rs 21,796.28 crore as in opposition to Rs 22,736.84 crore within the year-ago month.
For the remaining 23 personal sector life insurers, the brand new premium in June jumped about 34 per cent to Rs 8,213.20 crore as in opposition to Rs 6,131.84 crore within the year-ago interval.

Cumulatively, the general new premium of all of the life insurers throughout April -June 2021-22 rose 6.87 per cent to Rs 52,725.26 crore as in opposition to Rs 49,335.44 crore within the year-ago interval, as per the info from the Insurance Regulatory and Development Authority of India (Irdai).

LIC’s cumulative first yr premium in June quarter fell 2.54 per cent from a yr in the past to Rs 35,600.68 crore. For the personal business, the mixed cumulative new yr premium in the course of the three months rose by 34 per cent to Rs 17,124.58 crore.
In phrases of sum assured, LIC’s market share stood at 12.55 per cent as of June 30, 2021. Rest of the 87.45 per cent belongs to the 23 gamers within the personal sector.