Life insurers record lowest growth in last three years in April-Jan period

In absolute terms, total first year premium collected by life insurers (LIC and private) amounted to Rs 1.59 trillion

A total of 24 life insurers have registered a tepid growth of 5.32 per cent in the first year premiums collected by them in April-January period of FY 19 over the same period in FY 18.

This is the lowest growth recorded by the life insurers in the last three years in the April-January period.

While the private life insurers saw a double digit growth of 22.92 per cent in the first ten months of FY 19, state-owned life insurance behemoth LIC saw its growth contracting by 1.83 per cent.

In absolute terms, total first year premium collected by life