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Life insurers' June premium up 13% at Rs 14,466 cr

Press Trust of India  |  New Delhi 

The new business premium of life companies rose 13 per cent to Rs 14,466.13 crore in June, shows data from sector regulator Irdai.

New premium of all 24 life insurers in the country was at Rs 12,810.04 crore in June 2016.

Country's largest life insurer LIC reported an increase of 11.7 per cent in premium during the month at Rs 10,450.47 crore, as against Rs 9,354.52 crore a year ago.

For the rest 23 private sector players, the total business premium in June increased 16.2 per cent to Rs 4,015.65 crore from Rs 3,455.52 crore, the Regulatory and Development Authority of (Irdai) data showed.

Among private players, Life's premium jumped 37 per cent to Rs 805.55 crore from Rs 588.32 crore a year ago.

Prudential Life's new premium during the month was up 12.7 per cent to Rs 668.69 crore against Rs 593.55 crore and Standard Life reported an increase of 13.4 per cent at Rs 685.31 crore.

DHFL Pramerica Life witnessed a jump of over two times in premium at Rs 131.51 crore and Canara HSBC OBC Life stood at Rs 106.73 crore, up from from Rs 80.47 crore a year ago.

Sahara Life's premium fell to Rs 1.82 crore from Rs 2.44 crore a year ago.

Cumulative premium collection by all insurers during April-June of 2017-18 rose nine per cent to Rs 33,156.16 crore from Rs 31,392.55 crore, showed the data.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, July 14 2017. 17:28 IST