Magazine date:
Jul 2016 Indian life insurers have reported a sound growth of the new business in the course of the year 2015/2016. The amount of insurance policy premiums newly underwritten has jumped by 22.6% at 21 billion USD.
State-owned insurer LIC remains the main actor in the life class of business with 77% of the market shares. The company has underwritten 20 million new policies, a 24.7% increase in the turnover.
In the private sector, the number of new insurance contracts has reached 6.2 million for a growing turnover of 17.6% year-on-year.
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