INSURANCE
New premium income of life insurance companies jumps 42% in November: IRDAI
Dec-08-2021

The Insurance Regulator and Development Authority of India (IRDAI) in its latest data has showed that the new premium income of life insurance companies jumped by almost 42% to Rs 27,177.26 crore in November.

The insurance behemoth LIC - the only state-owned life insurer in the country - witnessed a more than 32% rise in the first-year business premium in November at Rs 15,967.51 crore. LIC held the largest share at 63.4%.

The remaining players belonging to the private sector registered a spike of 58.6% in their collective first-year premium income at Rs 11,209.75 crore. Among private players, SBI Life had the highest share at 8.77%, followed by HDFC Life at 7.86%; ICICI Prudential Life 4.91%; Max Life 2.36% and Bajaj Allianz Life at 2.62%.

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