India life insurance new-business premiums jump 20% to ₹47,004.84 cr
Business
India's life insurance sector just saw a solid 20% jump in new business premiums for July, hitting ₹47,004.84 crore compared to ₹38,958.05 crore last year.
Even with a tiny uptick from June, nearly 23 lakh new policies were issued, so more people are getting covered.
LIC over 23%, private insurers +16%
LIC drove most of this growth with a strong more than 23% rise in its numbers, while private insurers (all 26 of them) grew by 16%.
Looking at the bigger picture (April-July), the sector's premiums are up over 17%, though experts note that retail premium growth slowed down a bit in July.