Life insurers’ new business premium rose 20% in July to ₹47,000 crore
Life insurance companies in India saw a 20% increase in new business premiums in July, reaching ₹47,004 crore. Both LIC and private insurers reported growth, though analysts note that stock valuations remain affected by regulatory concerns.
Why it matters
Insurance sector performance is a key indicator of financial health and consumer confidence in the broader economy.
Life insurers in India mobilised ₹47,004.84 crore new business premium in July that in comparison to ₹38,958.05 crore in the year earlier period was 20% higher but only a tad better than ₹46,490.53 crore in June .
State-owned Life Corporation of India (LIC) led the segment with more than 23% increase in NBP or first year premium to ₹27,993.61 crore (₹22,617.64 crore) in July. Private life insurance companies, numbering 26, posted ₹19,011.23 crore for the month, an increase of 16% from ₹16,340.41 crore a year earlier. The life insurers in July sold 22,98,459 (22,78,245) policies/schemes.
For the four months ended July, the NBP of life insurers rose 17.45% to ₹1,55,625.31 crore (₹1,32,502.74 crore). LIC reported a 14.04% increase at ₹93,542.49 crore (₹82,028.32 crore).
Private players posted 23% increase in NBP to ₹62,082.82 crore (₹50,474.42 crore), per the latest data released by Life Insurance Council.
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