 "insurers, insurance")
New business premium (NBP) of life insurers grew by 12.68 per cent year-on-year (Y-o-Y) to ₹ 30,463 crore in May, driven by healthy growth in the private sector.
State-owned Life Insurance Corporation (LIC) recorded a 10.3 per cent Y-o-Y growth in NBP to ₹ 18,405.05 crore, while private-sector life insurers posted a 16.6 per cent rise to ₹ 12,058 crore, according Life Insurance Council data.
Among major private players, SBI Life Insurance’s premium rose 25.33 per cent Y-o-Y to ₹ 2,950 crore, HDFC Life grew 33 per cent to ₹ 3,022 crore, and ICICI Prudential Life increased 6.79 per cent to ₹ 1,407.25 crore. Axis Max Life Insurance saw a 25.5 per cent rise to ₹ 845.79 crore.
Also Read
 "Life Insurance Corporation")
 "Prashant Tripathy, MD & CEO, Axis Max Life Insurance")
 "max financial")
 "insurance")
 "Life insurance")
Meanwhile, Bajaj Allianz Life Insurance reported a 3 per cent decline in premium to ₹ 745.25 crore.
The individual business segment grew 3.35 per cent Y-o-Y to ₹ 10,611 crore, while the group business expanded 18.4 per cent to ₹ 19,851.8 crore.
However, the number of policies issued by life insurers fell 10.43 per cent Y-o-Y to 1.67 million. LIC’s new policies dropped 14.6 per cent to 1.06 million, and private insurers saw a 2.02 per cent decline to 604,500.
In the April–May 2025 period, new business premiums grew 10.9 per cent Y-o-Y to ₹ 52,427.4 crore. LIC’s premium rose 10.12 per cent to ₹ 32,015.7 crore, while private insurers recorded nearly 12 per cent rise to ₹ 20,411.7 crore.
 "M Rajeshwar Rao, Deputy governor, RBI")
 "JM Finnacial, JM Financial logo")
 "M Rajeshwar Rao, deputy governor at the Reserve Bank of India")
 "Rs, Rupee, Cash, Credit, Economy, Saving, Payment, Indian Currency")
 "money, financial, cash, rupee")
