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Insurance Premiums Grow 11% in FY18
April 24, 2018
The amount of first-year premiums collected by life insurance companies increased by 11% in the financial year 2017-18 compared to the previous fiscal according to the data with the apex body Insurance Regulatory and Development Authority of India (IRDAI).
The data reveals that in FY17, the insurance amount collected stood at Rs. 1.75 crores. However, in FY18 the amount collected was Rs. 1.94 crores. While state-owned Life Insurance Corporation of India (LIC) observed an 8% growth, private insurers saw a growth of 17.1%.
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