Life insurers’ new business rose 5% in May at ₹32,031 crore
Life insurance companies in India saw a 5% increase in new business premiums in May, reaching ₹32,031 crore. While private insurers outperformed the market with a 7% growth, the state-owned LIC saw a more modest 3.5% increase.
Why it matters
These figures provide insight into the health of the Indian financial sector and consumer savings behavior amidst geopolitical uncertainty.
The new business premium of life insurance companies rose more than 5% in May to ₹32,030.84 crore compared to ₹30,463.21 crore a year earlier even as the number of policies/scheme sold remained a tad lower.
The article relies entirely on industry data and official reports from the Life Insurance Council.
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