Insurance Premium News - Latest Updates & Headlines
LIC records 13.8 pc jump in group premium during May
New Delhi, June 9: Life Insurance Corporation of India (LIC), the country’s largest life insurer, reported a 13.79 per cent year-on-year increase in group premium for May this year. For the first two months of the financial year 2025-2026, group premium grew 13.66 per cent, data released by the Life Insurance Council showed on Monday.
Public sector general insurance firms collect Rs 1.06 lakh crore premium in FY25
New Delhi, May 29: The total premium collected by public sector general insurance companies (PSGICs) has witnessed a notable rise from around Rs 80,000 crore in FY19 to nearly Rs 1.06 lakh crore in FY25, the government has said.
LIC's new business premium surges to Rs 2.27 lakh crore in FY25
New Delhi, April 23: Life Insurance Corporation of India (LIC), the country's largest life insurer, registered new business premium to the tune of an impressive Rs 2,26,669.91 crore in for FY25, which includes a record Rs 62,404.58 crore from individual new business, according to data released by the Life Insurance Council on Wednesday.
IRDAI directs health insurers not to hike premium for senior citizens by over 10 pc
New Delhi, Feb 7: As health insurance companies have implemented steep premium hikes across age groups — some insurers even increasing health premiums up to 200 per cent — the Insurance Regulatory and Development Authority of India (IRDAI) has directed them not to revise premium rates for senior citizens by more than 10 per cent per annum.
LIC clocks 14.64 pc growth in new business premiums in 2024, collects Rs 2.33 lakh crore
New Delhi, Jan 10: The Life Insurance Corporation of India (LIC) clocked a 14.64 per cent growth (year-on-year) in new business premiums in 2024, collecting Rs 2.33 lakh crore in the January-December period, according to data by the Life Insurance Council on Friday.