Every
component of business in Life Insurance sector is important. Whether that is
first year premium, single premium, group insurance or renewal premium. Insurance
industry is growing in all aspects. Its is unbelievable that life insurance
industry procuring premium income more than 4 lakhs crores every year. In the
year 2016-17 and 2017-18 total premium income of the industry are 4.18 lakhs
crores and 4.58 lakhs crores respectively.
Total
premium Business (New business + Renewal) (Rs. in Crores)
|
Insurer
|
2016-17
|
2017-18
|
|
LIC
|
300487.36
|
318223.20
|
|
Growth (in percent)
over the previous year.
|
(12.78)
|
(5.90)
|
|
Private
|
117989.26
|
140586.24
|
|
Growth (in percent)
over the previous year.
|
(17.40)
|
(19.15)
|
|
Total
|
418476.62
|
458809.44
|
|
Growth (in percent)
over the previous year.
|
(14.04)
|
(14.04)
|
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