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Life insurance industry premium decelerates 2.33pc

Posted on Nov 23, 07:28PM | IBNS

The Insurance Regulatory and Development Authority (IRDA) has informed that the total premium collected by the life insurance industry decelerated by 2.33pc during the period ending 30th September, 2012 over the previous period ending 30th September, 2011.

The reasons for a negative growth in the premium collections are various factors that are influencing the financial sector as a whole.

IRDA has further informed that the authority interacts with Life Insurance Companies periodically to examine the possible way to facilitate growth of Insurance Business.

This was stated by Minister of State for Finance Namo Narain Meena in a written reply to a question in the Lok Sabha on Friday.