The
performance of life insurance industry is going in good pace. From financial
year 2016-17 to 2017-18 it has showed growth approx. 11 percent. There is huge
potential in Life Insurance Sector in the Country. The Total new Premium business
done by Life Insurers in India are 1.75 Lakhs crores and 1.94 lakh crores in
the year 2016-17 and 2017-18 respectively. The summarized details for the same
are as under.
New
Business premium (Including Single/Regular and Group Insurance Business) (Rs.
in Crores)
|
Insurer
|
2016-17
|
2017-18
|
|
LIC
|
124583.31
|
134671.69
|
|
Growth (in percent)
over the previous year.
|
(27.27)
|
(8.10)
|
|
Private
|
50619.37
|
59482.21
|
|
Growth (in percent)
over the previous year.
|
(23.84)
|
(17.51)
|
|
Total
|
175202.68
|
194153.90
|
|
Growth (in percent)
over the previous year.
|
(26.26)
|
(10.82)
|
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