New premium income of life insurers rose nearly 42% to ₹27,177.26 crore in November, data from regulator IRDAI showed on Tuesday.
Insurance giant LIC – the only state-owned life insurer in the country – saw a growth of over 32% in first-year business premium in November to Rs 15,967.51 crore.
The remaining players belonging to the private sector registered a growth of 58.6% in their collective first year premium income of ₹11,209.75 crore.
LIC held the largest share at 63.4%.
Among the private players, SBI Life had the highest share of 8.77%, followed by HDFC Life at 7.86%; ICICI Prudential Life 4.91%; Max Life at 2.36% and Bajaj Allianz Life at 2.62%.
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