Life insurers' new biz premium flat in Dec, but rises 10.5% in Q3

After a stellar performance in November — following a poor show in October — the new business premium (NBP) of life insurance companies was largely flat in December. This is owing to a 20 per cent fall in Life Insurance Corporation’s (LIC) NBP.

However, in the October-December quarter (Q3), NBP of life insurers jumped 10.45 per cent over the same period last year, mainly backed by the robust growth of private insurers’ NBP.

In Q3 of FY22, insurers earned NBP to the tune of Rs 73,249.97 crore, compared to Rs 66,318.76 crore earned in the same period last year. While private insurers’