Insurance Premium News: Income from premiums of latest insurance policies of lifestyles insurers rose by means of 91 in step with cent to Rs 39,078.91 crore in July. The Insurance Regulatory and Development Authority of India- Insurance Regulatory and Development Authority (IRDA) has given this knowledge whilst liberating the information for July, 2022. A 12 months in the past in July, 2021, the brand new top class source of revenue of lifestyles insurance coverage corporations was once Rs 20,434.72 crore.
LIC was once the most important gainer
According to IRDA information, Life Insurance Corporation of India (LIC) had the absolute best source of revenue of Rs 29,116.68 crore from new coverage premiums final month. In the similar month a 12 months in the past, LIC’s top class source of revenue from new industry was once Rs 12,030.93 crore. LIC has the absolute best proportion of 68.6 % within the lifestyles insurance coverage marketplace of the rustic.
Other 23 insurance coverage corporations of the rustic additionally were given excellent advantages
The new coverage top class source of revenue of the rest 23 different lifestyles insurance coverage corporations additionally higher by means of about 19 in step with cent to Rs 9,962.22 crore throughout this era. It was once Rs 8,403.79 crore in the similar length a 12 months in the past.
Premium source of revenue incorporated in April-July additionally crossed Rs 1 lakh crore
In the primary 4 months (April-July) of the present monetary 12 months, the mixed top class source of revenue from new industry of these kinds of insurers stood at Rs 1,12,753.43 crore as in comparison to Rs 73,159.98 crore within the corresponding length of final 12 months. In those 4 months, LIC’s overall top class source of revenue from new industry higher by means of greater than 62 in step with cent to Rs 77,317.69 crore.
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