new business premium income of life insurance companies increased by 91 per cent to Rs 39,078.91 crore in july 20,434.72 crore as against Rs. 20,434.72 crore during the corresponding period of last year. Ltd., which is India’s largest life insurer and claims a nearly 68.6 per cent share of the life insurance segment, has reported a more than two-fold jump in new business premiums. revenue According to the Insurance Regulatory and Development Authority, Rs 29,116.68 crore stood at Rs 29,116.68 crore during the month as compared to Rs 12,030.93 crore in the year-ago month. India ,break up) information.

In the private sector, 23 players out of the total 24 saw their combined new premium income increase by almost 19 per cent to Rs 9,962.22 crore in July 2022 from Rs 8,403.79 crore in July 2021.

On a cumulative basis, the first year premium of all insurers increased by 54 per cent to Rs 1,12,753.43 crore during the April-July period of FY23, as against Rs 73,159.98 crore in the same period of 2021-22.

For LIC, the cumulative new premium grew over 62 per cent to Rs 77,317.69 crore in the first four months of the current fiscal.

The premium income of private companies grew by 39 per cent to Rs 35,435.75 crore in April-July of FY13.

(with inputs from PTI)