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Life insurers' new biz premium grows 43% inMay

Tuesday, June 18, 2019, 9:54 AM

New business premiums for life insurance companies grew 43.43% to Rs 18,414.02 crore in May, with state-run Life Insurance Corporation of India (LIC) growing at a faster pace than private insurers, showed data from the Insurance Regulatory and Development Authority of India (Irdai). Market participants attribute this growth largely to a surge in group business.