Industry News

Industry news may demonstrate you know what's going on in the world.

New biz premium income of life insurance companies up 13% at Rs 3.14 lakh crore in FY22

18-Apr-2022

New business premium income of all the life insurance companies rose by nearly 13 percent to Rs 3,14,263 crore in fiscal 2022, data from Irdai showed on Monday.

Twenty-four life insurance companies had a total premium income of Rs 2,78,277.98 crore from new business in the previous fiscal.

Soon-to-be listed public sector insurance behemoth LIC registered about 8 percent growth in its new business premium income at Rs 1,98,759.85 crore in 2021-22, against Rs 1,84,174.57 crore in the previous fiscal, as per the data shown by the Insurance Regulatory and Development Authority of India (Irdai).

The rest of the 23 life insurance companies belonging to the private sector had a combined new business premium of Rs 1,15,503.15 crore during the fiscal, up 23 percent from Rs 94,103.42 crore.

In terms of market share, LIC commanded 63.25 percent of the market and the rest of 36.75 percent by the 23 private entities, as per Irdai data.

 

×

To be added soon

Priyanshu B. Tanna

SEBI registered IFA

ARN119467 & EUIN E-183966

To be added soon

Bharat Tanna

SEBI registered IFA

ARN26176 & EUIN E-044509

To be added soon

Kundan B. Tanna

SEBI registered IFA

ARN294073 & EUIN E-553599

Risk factor

Risk Factors – Investments in Mutual Funds are subject to Market Risks. Read all scheme related documents carefully before investing. Mutual Fund Schemes do not assure or guarantee any returns. Past performances of any Mutual Fund Scheme may or may not be sustained in future. There is no guarantee that the investment objective of any suggested scheme shall be achieved. All existing and prospective investors are advised to check and evaluate the Exit loads and other cost structure (TER) applicable at the time of making the investment before finalizing on any investment decision for Mutual Funds schemes. We deal in Regular Plans only for Mutual Fund Schemes and earn a Trailing Commission on client investments. Disclosure For Commission earnings is made to clients at the time of investments. Option of Direct Plan for every Mutual Fund Scheme is available to investors offering advantage of lower expense ratio. We are not entitled to earn any commission on Direct plans. Hence we do not deal in Direct Plans.

Copyright © 2025 Design and developed by Fintso. All Rights Reserved