life insurance companies Their collective new business saw a marginal increase of 4.15 percent premium Rs 31,254.55 crore junedata from I’m sorry Shown on Thursday. 24 life insurance companies had deposited premium of Rs 30,009.48 crore in the same month a year ago.

State-owned LIC– the country’s largest life insurer– however, saw a 5.29 per cent decline in new business premiums to Rs 20,643.67 crore in June 2022 as against Rs 21,796.28 crore in the year-ago month. To Insurance Regulatory and Development Authority of India (Irda) date.

On the other hand the remaining 23 private sector players registered a 29.19 per cent increase in their combined new premium to Rs 10,610.89 crore as compared to Rs 8,213.20 crore in June 2021.

cumulatively, during April-June In the period 2022-23, all 24 life insurers reported a nearly 40 per cent jump in new business premiums to Rs 73,674.53 crore as against Rs 52,725.26 crore in the year-ago period.

For

The cumulative new premium increased by over 35 per cent to Rs 48,201 crore during the first three months of the current financial year.

For private sector players, the combined cumulative new business premium rose 47.75 per cent to Rs 25,473.53 crore in April-June FY23.

In terms of market share, LIC controlled 62.42 per cent of the sector, the data showed.