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Life insurers new premiums rose 11.5% in FY14

In FY14, a total of 4.08 trillion policies were sold, compared to 4.41 trillion policies in FY13.

May 09, 2014 8:45 IST | India Infoline News Service
Life insurers new premiums rose 11.5% to Rs 1.19 trillion for the financial year ended 2013-14 from Rs. 1.07 trillion in FY13, according to IRDA (Insurance Regulatory and Development Authority) data.
Life Insurance Corporation (LIC) collected new premiums of Rs. 901.24 billion for the fiscal, a rise of 17.8% over the previous fiscal.
Private life insurers new premiums declined 4% to Rs. 295.17 billion.
In FY14, a total of 4.08 trillion policies were sold, compared to 4.41 trillion policies in FY13.
During the same period, the number of policies for group single premium rose to 1,878 from 1,760.

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