| The country's largest life insurer Life Insurance Corporation of India (LIC) has maintained its robust growth during the first eight months of the current financial year. Its new premium surged 187 per cent, beating the life insurance industry's growth rate of 165 per cent in the same period. |
| The 16-player strong life insurance industry mopped up Rs 44,073 crore in the first eight months of 2006-07 compared with Rs 16,603 crore in the same period in 2005-06, according to Insurance Regulatory and Development Authority data. |
| Despite growing on a higher base, the state-owned life insurance major mobilised Rs 35,219 crore in premium by selling 1.44 crore policies vis-a-vis Rs 12,271 crore garnered during the same period last year. |
| In new premium, LIC's market share was 79.91 per cent during the period, while 15 private players shared the remaining 20.09 per cent. |
| Private players doubled their combined premium collection to Rs 8,854 crore till November against Rs 4,332 crore in the same period a year ago. |
| ICICI Prudential topped the private players' chart by clocking an impressive 108 per cent y-o-y jump in premium mop-up at Rs 2,462 crore, followed by Bajaj Allianz Life Insurance, whose premium grew 80 per cent y-o-y to Rs 1,827 crore during the eight-month period ending November. |
| ICICI Prudential and Bajaj Allianz had shares of 5.58 per cent and 4.14 per cent, respectively, of the new premium market. |
| Bajaj Allianz mopped up Rs 1,827 crore, followed by SBI Life (1,003 crore), HDFC Standard (Rs 809 crore), Birla Sun Life (Rs 442 crore), Max New York Life (Rs 439 crore), Aviva (Rs 403 crore), Tata AIG (Rs 395 crore), Reliance Life (Rs 334 crore), Kotak Mahindra Old Mutual (Rs 272 crore), ING Vysya (Rs 240 crore), Met Life (Rs 138 crore), Shriram Life (71 crore), Sahara Life (12.79 crore).
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LIC's new premium up 187%
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First Published: Jan 12 2007 | 12:00 AM IST
