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Life insurers' new biz premium up 4% at Rs 7,280cr in Apr

Press Trust of India  |  New Delhi 

New business premium of life companies grew moderately by 4.16 per cent to Rs 7,279.98 crore in April, 2018, according to the Irdai data.

All 24 life insurers had generated Rs 6,989.51 crore as premium income from new policies in the same month last year.

The country's largest life insurer of (LIC) witnessed a decline of 1.62 per cent in new premium collection at Rs 4,355.27 crore in April from Rs 4,426.87 crore a year earlier, the data released by the Regulatory and Development Authority of (Irdai) showed.

Among others, reported a fall of 1.47 per cent in its new premium collection at Rs 410.99 crore in April.

ICICI Prudential Life's new premium income dropped by 20.72 per cent to Rs 464.35 crore, Bajaj Allianz Life's by 24.35 per cent to Rs 196.33 crore, and Life's by 8.43 per cent to Rs 89.38 crore.

Life posted 23.14 per cent drop to Rs 31.18 crore and Sahara Life by 98.21 per cent at Rs 0.01 crore.

However, new premium income of soared over two-fold to Rs 764.75 crore; Edelweiss Tokio Life's by 74.26 per cent at Rs 18.27 crore and DHFL Life by 60.35 per cent to Rs 115.82 crore.

posted 115.20 per cent rise at Rs 49.35 crore; 188.57 per cent at Rs 14.82 crore; and up by 97.12 per cent at Rs 7.54 crore.

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

First Published: Mon, May 14 2018. 20:45 IST
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