The premium collection of public sector insurer LIC dipped 3.8% to Rs. 35,342 crore in the first half of 2012-13 from Rs. 36,721 crore for the corresponding period last year, due to a fall in group non-single premium collections.
The total premium collection of 23 private life insurers also went down 5.7% to Rs. 11,621 crore in the period from Rs. 12,325 crore in the year-ago period.
The total number of polices as on September 2012 stood at 16.2 million, against 16.8 million as on September 2011.