Life insurance premia down 4% in Apr-Sep

  • HT Correspondent, Hindustan Times, Mumbai
  • |
  • Updated: Nov 01, 2012 21:46 IST

The life insurance sector continues to face a slowdown, as the total premium collection of companies was down 4% to Rs. 46,963 crore in the first six months of the current fiscal, against Rs. 49,046 crore in the year-ago period, data released by the Insurance Regulatory and Development Authority (IRDA) showed.

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.

 

also read

CCEA gives nod for IDFs to take over bank loans

blog comments powered by Disqus