 "Insurance, digital, health cover")
The life insurance industry saw an improvement in premium collection in June after witnessing a 5.5 per cent drop the previous month as economic activities picked up in states amid falling Covid-19 cases.
The new business premium (NBP) of life insurers — 24 in total — rose 3.95 per cent year-on-year (YoY) to Rs 30,009.48 crore.
NBP is the premium acquired from new policies in a particular year. The yearly group renewable premium, which jumped almost three times, aided the growth.
But when compared to the pre-pandemic period (June 2019), the NBP still lags by as much as 6.9 per cent. On a
