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After witnessing a double-digit contraction in new business premium (NBP) in July, life insurers are back in the green again, witnessing a marginal year-on-year (YoY) growth of 3 per cent in NBP in August, owing to a strong performance by the private insurers.
In July, life insurers reported an 11 per cent YoY drop in NBP while in June they managed to report a 7.53 per cent increase in NBP, following a dip in May due to the second wave of the pandemic.
The life insurance industry reported NBP to the tune of Rs 27,820.74 crore in August, up 2.88
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