Insurance ind records 11.35 pc growth in premium income in H1

The insurance industry overall has registered a growth of 11.35 per cent in premium collection at Rs 55,866.54 crore in the first six months
of this fiscal as compared to Rs 50,171.09 crore in the year-ago period.

The life insurance sector has grown by around 13 per cent while the non-life segment witnessed a growth of around eight per cent in the first-half of FY 10, according to the Insurance Regulatory and Development Authority (IRDA).

First year premium income of life insurance players stood at Rs 39,046.59 crore in the April-September period as against Rs 34,599.37 crore in the corresponding period last year, IRDA said.

The total premium underwritten by the general insurance companies in the period was Rs 16,819.95 crore as compared to Rs 15,571.72 crore in the year-ago period.

State-run Life Insurance Corporation of India (LIC) mopped-up a premium of Rs 25,814.49 crore in H1 FY 10, registering a growth of 35 per cent, as against Rs 19,091.48 crore in the corresponding period last year.

The 21 private life insurers posted a negative growth of 15 per cent in fresh premium income at Rs 13,232.11 crore in the period as against Rs 15,507.89 crore in the year-ago period.

Source - economictimes.com

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