Private life insurers see drop in premium

After reporting moderate growth over the past few months, the premium collected by private life insurance companies declined 9% year-on-year (y-o-y ) in September. The poor show impacted the performance of private insurers during the first half of the current financial year.

The premium mobilized by private players dropped 2% yo-y to Rs 7,095 crore in April-September, data showed. Public sector behemoth LIC saved the day for the industry recording a robust 24% y-o-y growth in premium collections to Rs 15,532.7 crore during the period. Read more