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New business premiums (NBP) of life insurance companies jumped 84 per cent year-on-year (YoY) in April, propped up by 141 per cent increase in initial public offering-bound insurance behemoth Life Insurance Corporation (LIC) of India’s NBP, according to the latest data released by the Life Insurance Council.
In April, the industry earned NBP to the tune of Rs 17,939 crore, compared with Rs 9,739 crore in the year-ago period. LIC’s NBP totalled Rs 11,717 crore in the same period, up 141 per cent, due to a colossal rise in group single premium. Group single premium reported a 227 per cent jump
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