New Business Premium In Insurance Sector Rises 22% In July
Private life insurers chipped in Rs 16,340.4 crore, representing a 22.02% rise.
The insurance sector's new-business-premium collections soared 22% to Rs 38,958.1 crore in July from Rs 31,822.7 crore in the same period last year.
Under its new business premium segment, Life Insurance Corp. garnered Rs 22,617.6 crore in the July period as compared to Rs 18,430.6 crore for the year-ago period.
Private life insurers chipped in Rs 16,340.4 crore, representing a 22.02% rise, compared to Rs 13,392.07 crore during the same period of the corresponding year.
The individual premium category witnessed a 10.33% surge in its collection, amounting to Rs 6,045.47 crore in July against Rs 5,479.57 crore in July 2024. Further, the group premium portfolio posted a 27.96% growth, rising to Rs 16,572.17 crore from Rs 12,951.06 crore a year earlier.
The total policies issued by the country's largest insurance provider stood at Rs 14.62 lakh for July 2025 from 16.28 lakh in the same period last year.
Individual policies stood at 14.61 lakh policies for the month of July 2025 from 16.24 lakh policies for the same period in the previous year.
Notably, for the same period, group policies were recorded at 1,032 from 3,581 for the same month of the corresponding year.
