|
|
| |
|
|
| |
| Featured Doctors |
| Coming Soon | |
| |
| Featured Training Institute |
| Coming Soon | |
| |
|
|
Life Insurance Companies saw a 21% Rise
|
|
|
|
|
|
| |
| |
Life Insurance Companies saw a 21% Rise
Life insurance companies saw a 21 % rise in total premium to Rs 1.2 trillion in the period between April to October 2009, Life Insurance Council, an apex industry body, said on Monday.
New business premiums of the industry rose 18 % to 465.51 billion rupees, while renewal premiums rose 24 % to Rs 739.52 billion, it said quoting latest industry data.
Total unit-linked premiums rose 15 % to Rs 528.18 billion, while traditional products rose 27 % to Rs 676.85 billion, it said.
Unit-linked products are insurance policies sold as units like mutual funds and the corpus is mainly invested in equity and debt markets.
“Growth was propelled by low commission single premium policies,” S B Mathur, secretary general, Life Insurance Council, told Reuters over the telephone.
“The trends show investors preferred non-linked policies signifying clear trend towards traditional policies,” Mathur said.
India has 22 life insurance firms including the country’s largest insurer Life Insurance Corp.
Indian laws currently permit foreign investment of up to 26 % in insurance companies. The parliament is also considering a law to raise the foreign-investment limit to 49 %. |
| |
|
| |
|
