Premium growth of life insurers hits 4-year low; LIC's collections drop

Market volatility and shift towards protection business have adversely impacted growth rates

The growth in the first-year business premiums — the premium collected from new individual and group policies sold in the given period — of the life insurance sector seems to have taken a knock in the first eight months of FY19. 

According to the data from the Insurance Regulatory and Development Authority of India (Irdai), the growth rate between April and November has been 0.33 per cent - the lowest in four years. 

This has been due to the fall in the first-year business premiums of the Life Insurance Corporation of India (LIC) at -7.93 per cent. For the private