new business premium life income of india Insurance Companies grew by 15.3 percent to Rs 24,916.58 crore in October 2022, figures of life insurance council has shown. All 24 life insurers had a collective new business premium In the same month a year ago (October 2021), there was an income of Rs 21,606.25 crore.

LIC – the only state-owned and largest life insurer in the country – reported an 18 per cent increase in its new business premium to Rs 15,920.13 crore during the month as against Rs 13,500.78 crore a year ago.

The remaining 23 players in the private sector saw their combined new business premium rise 11 per cent to Rs 8,996.45 crore from Rs 8,105.46 crore in October 2021.

On a cumulative basis, all the 24 players registered 35 per cent growth in new business premium income during the April-October period of 2022-23 to Rs 2,06,893.51 crore as against Rs 1,53,588.14 crore in the same period of 2021-22 Was. According to the figures.