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Life insurance companies new premium business rise 45% in April

Updated : May 10, 2021 13:23:49 IST

The premium for the life insurance industry increased by 45 percent year-on-year (YoY) in the month of April. Private life insurance companies, meanwhile, grew by 55 percent YoY.

For HDFC Life, the total premium was up almost 80 percent and retail APE grew by 96 percent YoY.

For ICICI Prudential, the total premium grew by about 150 percent and retail APE grew by 65 percent. For Max Life, the total premium was up more than 100 percent and retail APE was 121 percent YoY.

However, for SBI Life, the total premium has been a little low. It grew by just 1 percent, but the retail APE grew by 263 percent.

For LIC, the total premium was up 35 percent and the retail APE was up by 74 percent.
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