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New premium of life insurers up 27% on year at Rs 13,698 cr in Feb

LIC'S new premium collection up by 24%, remaining 23 insurers had an average 32.4% increase

Press Trust of India  |  New Delhi 

Life firms reported an increase of about 27 per cent in its new premium collection in February at Rs 13,698.52 crore, data from regulator Irdai showed today.

Of all the 24 life firms, country's only state-owned as well as the largest insurer LIC, the increase in new premium collection was up by 24 per cent to Rs 8,476.73 crore during the month.

Rest of 23 private sector players had new premium collection of Rs 5,221.79 crore in February, up 32.4 per cent from a year ago, showed the (Irdai) data.

Among the private sector life insurers, reported new premium of Rs 709.72 crore in the 11th month of this fiscal, up 32 per cent; witnessed a jump of 80.4 per cent in new premium at Rs 1190.90 crore during the month.

Of the others, had new business worth Rs 780.79 crore, down 12 per cent from a year ago, was at 368.49 crore as against Rs 177.51 crore year ago and Rs 182.79 crore against Rs 142.43 crore.

Cumulatively, all the 24 companies' new premium collection during April-February period of this fiscal rose to Rs 1,64,321.18 crore, from Rs 1,40,346.76 crore a year ago period.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, March 13 2018. 21:40 IST