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LIC says its ITC investment is 'in interest of public welfare', seeks dismissal of PIL
24-Jun-2017 (09:53)
Insurance regulator IRDAI directs Sahara India Life Insurance to stop underwriting new business
24-Jun-2017 (09:32)
GST impact: Insurance premium, credit card bills, to get costlier
20-Jun-2017 (17:46)
LIC corners 38.67% of SBIs Rs 15,000 crore QIP
19-Jun-2017 (19:40)
Insurance Information Bureau plans central data base of insurance agents
19-Jun-2017 (09:37)
Kotak Mahindra Bank acquire 26% of shares from Old Mutual Plc in insurance arm gets CCI nod
16-Jun-2017 (19:25)
Private life insurance companies drive industry's growth in May
15-Jun-2017 (09:47)
Life Insurance Companies New Business Premium jump 11% in May
13-Jun-2017 (09:54)

The total new business premium of life insurance companies stood at Rs 11,801 crore during May this year when compared with Rs 10,610 crore in May 2016, posting an increase of 11 per cent.

State-owned LIC continued to sustain its growth momentum with 14 per cent rise in its new premium at Rs 8,407 crore (Rs 7,362 crore in May 2016), according to the data collected by the Insurance Regulatory and Development Authority of India.

The total new premium collected by all private insurers grew by just four per cent at Rs 3,394 crore when compared with Rs 3,248 crore in May 2016.

But, ICICI Prudential Life, which topped the table among the private life insurers, and HDFC Standard Life reported strong growth during the month.

ICICI Prudential Life's saw a whopping 88 per cent growth in its first year premium income at Rs 727 crore during the month when compared with Rs 387 crore.

HDFC Standard Life mopped up new business premium of Rs 604 crore as against Rs 503 crore in a year ago month.

SBI Life reported a significant drop at Rs 576 crore when compared with Rs 842 crore in May 2016.

Other life insurers who reported growth during May include Kotak Mahindra Old Mutual Life, which reported a new premium of Rs 210 crore (Rs 198 crore) and Max Life, which saw its new premium jump 16 per cent at Rs 197 crore, among others.

The cumulative new business premium during April-May 2017 of all life insurers stood at Rs 18,788 crore as against Rs 18,583 crore in the year ago period.
IRDAI takes over management of Sahara Life Insurance; appoints R K Sharma as administrator
13-Jun-2017 (09:35)
Reliance General Insurance IPO by FY18-end
12-Jun-2017 (16:59)
LIC settles 99.92 per cent of death claim cases, sets record high
12-Jun-2017 (09:58)
UK-based Standard Life pushes for listing of HDFC Life Insurance
10-Jun-2017 (09:56)
IRDAI reaffirms original position on HDFC Life - Max Life Insurance merger
08-Jun-2017 (18:55)
Max Life, HDFC Life Insurance 'committed to merger', weighing options
08-Jun-2017 (12:51)
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