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Life insurers witness 61% growth in new business premiums

Life insurers witness 61% growth in new business premiums

Photo for representational purpose only. - File photo



Tribune News Service

CHANDIGARH, MAY 9

Indian life insurers started the current fiscal on an upbeat note. According to data released by the Life Insurance Council, the new business premiums (NBP) underwritten by Indian life insurers grew by 61.23 per year, highlighting the growing demand for life insurance policies among the country’s population.

The NBP of Indian life insurers stood at Rs 20,258.86 crore for April 2024 as opposed to Rs 12,565.31 crores for April 2023. This growth is mainly due to group single premium which grew over 126 per cent.

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