Life insurers' new business premiums up 3.7% in Jan after two slump months

This is despite state-owned insurance behemoth LIC reporting a 2% decline in NBP in the same period to Rs 13,143.64 crore

After witnessing a decline in new business premiums (NBP) for two consecutive months, January saw life insurers recording a 3.7 per cent rise in NBP to Rs 21,389.7 crore compared to Rs 20,623 crore in the year ago period.

This is despite state-owned insurance behemoth – Life Insurance Corporation (LIC) – reporting a 2 per cent decline in NBP in the same period to Rs 13,143.64 crore compared to Rs 13,470.91 crore in the year ago period. However, private insurers, 23 in total, saw 15.3 per cent rise in NBP to Rs 8,246 crore compared to Rs 7,152 crore in