Life insurers record 15% growth in new business premiums in August

In August, life insurers earned NBP to the tune of Rs 27,039.79 crore, compared to Rs 23,554.94 crore in the same period last year

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The private insurers also saw their NBP decline almost 2 per cent in the same period in FY21 over the last financial year.

Subrata Panda Mumbai

2 min read Last Updated : Sep 08 2020 | 6:50 PM IST

As many as 24 life insurers recorded a 15 per cent growth in new business premium in August, the second consecutive month of growth in new business premiums (NBP) after four straight months of contraction.

NBP is the premium acquired from new policies for a particular year.

Life insurers earned in August NBP to the tune of Rs 27,039.79 crore, compared to Rs 23,554.94 crore in the same period last year. Private life insurers NBP grew 13.74 per cent to Rs 7,325.59 crore this August, compared to Rs 6,440.62 crore in August 2019. State owned Life Insurance Corporation recorded 15.19 per cent

Topics : Lockdown Life insurers Life Insurance Corporation of India LIC Private insurers

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