Life insurers' new business premium rises 22% to Rs 32,644 cr in Aug

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Life insurers' new business premium rises 22% to Rs 32,644 cr in Aug - Business Standard

Quick Summary:

The new business premium collection for the first five months of FY25 rose 21 per cent to Rs 1,54,194 crore from Rs 1,27,661 crore in the same period last year, as per the monthly data released by the industry body Life Insurance Council.

New business premiums expanded from Rs 26,788.55 crore in August 2023 to Rs 32,644 crore in August 2024, with year-to-date collections growing even more from Rs 1,27,661 crore to Rs 1,54,194 crore this year, according to the council data.

Life insurers have recorded a 22 per cent rise in underwriting new business with a premium collection of Rs 32,644 crore in August.