Life Insurers report 5.7% growth in premiums in April - Feb period

Life-insurance companies in February reported an 11.6 per cent year-on-year (Y-o-Y) drop in new business premium (NBP) owing to relatively weak performance by state-owned Life Insurance Corporation (LIC), which reported a 22 per cent drop in premium. Meanwhile, in in April-February period of FY25, the premium of life insurers grew 5.71 per cent Y-o-Y to Rs 3.35 trillion. LIC’s premium rose by 1.90 per cent to Rs 1.90 trillion while private insurers clocked 11.11 per cent growth to Rs 1.46 trillion.