The latest data from Insurance Regulatory and Development Authority of India (IRDAI) showed that new business premium income of all the life insurance companies grew 2.65% to Rs 21,957 crore in January 2022, data showed. The life insurance companies had collected Rs 21,389.70 crore as the first year or the new business premium in January 2021. The largest and the only state-owned insurer LIC registered a decline of 1.58% in new premium income at Rs 12,936.28 crore in January 2022, as against Rs 13,143.64 crore in the same month a year ago. On a cumulative basis, the new premium income of all the 24 life insurers during April-January period of 2021-22 was up 6.94% at Rs 2,27,188.89 crore.
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