 "Life insurers see 16% growth in new premiums")
Life insurance companies saw a 16 per cent rise in new premiums for the April-December 31, 2015, period. They collected new premiums of Rs 85,587.73 crore premium during the period compared to Rs 73,777.37 crore collected in same period last financial year.
Data from the Insurance Regulatory and Development Authority of India showed private life insurers posted a 17.5 per cent growth in new premiums and collected Rs 25,972.31 during the period. Life Insurance Corporation of India (LIC) collected new premiums of Rs 59615.41 crore for the first three quarters, seeing a growth of 15.4 per cent over same period last financial year.
The last quarter is expected to boost higher growth on account of it being the tax saving season leading to sale of more insurance policies.
Data from the Insurance Regulatory and Development Authority of India showed private life insurers posted a 17.5 per cent growth in new premiums and collected Rs 25,972.31 during the period. Life Insurance Corporation of India (LIC) collected new premiums of Rs 59615.41 crore for the first three quarters, seeing a growth of 15.4 per cent over same period last financial year.
The last quarter is expected to boost higher growth on account of it being the tax saving season leading to sale of more insurance policies.