Life insurers have recorded a 22 per cent growth in new business premium in August 2024, at ₹32,644 crore (from ₹26,789 crore).
In the April-August period, the new business premium garnered by these insurers grew 21 per cent to ₹1,54,194 ( from ₹1,27,661 crore), data released by the industry body Life Insurance Council showed.
However, new policy issuances declined 1.44 per cent to 23,94,007 in August 2024, as against 24,28,895 policies in the corresponding period last year.
The net addition to life insurance agency force stood at 1,08,147 in August 2024, the data showed.