As of May, LIC has the largest share in the life insurance market with 67.39 per cent of the pie
For the second consecutive month in 2020-21 (FY21), new business premiums (NBP) of life insurance companies have recorded negative growth owing to Covid-related disruptions.
In May, NBP of life insurers contracted 25.4 per cent to Rs 13,739 crore, from Rs 18,414 crore in the same period a year ago.
In the first two months of FY21, life insurers saw their NBP fall almost 30 per cent to Rs 20,466.76 crore, compared to Rs 28,395.90 crore in 2019-20.
First Published: Jun 09 2020 | 5:30 PM IST