Life insurers see over 70% year-on-year growth in NBS in March

In FY21, life insurance companies saw a 7.5% increase in NBP over FY20

The 24 life insurers in the country have largely seen impressive growth in new business premium (NBP) in March and ended the financial year on a high, defying expectations of many who were under the impression that the life sector may see a de-growth in FY21.

In March, the NBP of life insurers grew by 70 per cent to Rs 43,416.69 crore from Rs 25,409.30 crore a year ago. March is one of the most productive months for the life insurance sector as they source a lot of business from people who buy policies during this month to save up