Life Insurance Corporation of India (LIC) on Tuesday reported a 9.91 per cent increase year-on-year in new business premium for April -- surpassing the industry growth rate of 8.43 per cent and private life insurers’ growth of 6.09 per cent.
As per data released by the Life Insurance Council, LIC collected Rs 13,610.63 crore in new business premiums last month, up from Rs 12,383.64 crore in the same month last year.
The overall life insurance industry garnered Rs 21,965.73 crore, marking an 8.43 per cent rise over Rs 20,258.86 crore collected in the same month last year.
Private life insurers contributed Rs 8,355.10 crore, registering a 6.09 per cent growth over the previous year’s Rs 7,875.22 crore.
As per the data, in the Individual Premium category, LIC posted a slight decline of 0.46 per cent, collecting Rs 3,160.87 crore in April 2025 compared to Rs 3,175.47 crore in April 2024.