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Posted on Oct 04, 04:37PM | UNI
Total premium collections of life insurers dipped by 3.18 per cent in April-August period this year at Rs 39,357.6 crore, according to Insurance Regulatory and Development Authority (IRDA).
During the first five months of current financial year the largest public life insurer Life Insurance Corporation of India's (LIC) premium collection also declined by 3.2 per cent at Rs 29,893.21 crore, the insurance regulator's data showed.
Private life insurers premium collection from new policies dipped by 2.8 per cent at Rs 9,464.47 crore, as compared to Rs 9,740.8 crore collected in the same period last year, it showed.
However, companies dealing with non-life insurers witnessed a increase in premium collection.
The general insurance companies premium collection increased by 17.6 per cent to Rs 27,942.37 crore for the April-August 2012 period, as compared to the same period previous year.