<p> <br />In comparison, in the first four months of previous fiscal, LIC’s premium collections from new business stood at Rs 14,265 crore, the data from sectoral regulator Insurance Regulatory & Development Authority (Irda) said. Overall, the 23 life insurers in the country collectively mopped up Rs 34,249 crore as new first-year premium during the period, a 55 per cent increase from Rs 21,996 crore in the year-ago period.<br /><br />Out of this, the 22 private life insurers together accounted for Rs 9,818 crore worth of new business in the April-July period, compared to Rs 7,730 crore in the year-ago period, a growth of 27 per cent. <br /><br />Among private life insurance players, ICICI Prudential saw its premium collections from new business grow by 73 per cent to Rs 1,987 crore during the period, while Reliance Life saw an increase of 23 per cent to Rs 901 crore.<br /><br />SBI Life’s premium collections from new business grew to Rs 1,539 crore in April-July, 2010, from Rs 1,398 crore during the corresponding period last year.<br /><br />Non-life insurance<br /><br />Meanwhile, non-life insurance industry witnessed a 22 per cent growth in premium collections in the April-July period to Rs 14,218.27 crore. <br /><br />The segment had registered a gross premium income of Rs 11,679.79 crore in the April-July period of 2009-10, as per the Irda data. Nearly 70 per cent of the gross premium income in the non-life insurance sector was accounted for by PSUs.<br /><br />In the April-July period, the four public sector general insurers collected Rs 8,397.19 crore, compared to Rs 6,917.82 crore during the corresponding period last year. <br />The maximum premium was mopped up by New India Insurance, which saw a 20 per cent growth in collections to Rs 2,590.71 crore.<br /><br />Among private players, ICICI Lombard’s premium collections grew 25.59 per cent to Rs 1,396.91 crore during the first four months of the current financial year.</p>
<p> <br />In comparison, in the first four months of previous fiscal, LIC’s premium collections from new business stood at Rs 14,265 crore, the data from sectoral regulator Insurance Regulatory & Development Authority (Irda) said. Overall, the 23 life insurers in the country collectively mopped up Rs 34,249 crore as new first-year premium during the period, a 55 per cent increase from Rs 21,996 crore in the year-ago period.<br /><br />Out of this, the 22 private life insurers together accounted for Rs 9,818 crore worth of new business in the April-July period, compared to Rs 7,730 crore in the year-ago period, a growth of 27 per cent. <br /><br />Among private life insurance players, ICICI Prudential saw its premium collections from new business grow by 73 per cent to Rs 1,987 crore during the period, while Reliance Life saw an increase of 23 per cent to Rs 901 crore.<br /><br />SBI Life’s premium collections from new business grew to Rs 1,539 crore in April-July, 2010, from Rs 1,398 crore during the corresponding period last year.<br /><br />Non-life insurance<br /><br />Meanwhile, non-life insurance industry witnessed a 22 per cent growth in premium collections in the April-July period to Rs 14,218.27 crore. <br /><br />The segment had registered a gross premium income of Rs 11,679.79 crore in the April-July period of 2009-10, as per the Irda data. Nearly 70 per cent of the gross premium income in the non-life insurance sector was accounted for by PSUs.<br /><br />In the April-July period, the four public sector general insurers collected Rs 8,397.19 crore, compared to Rs 6,917.82 crore during the corresponding period last year. <br />The maximum premium was mopped up by New India Insurance, which saw a 20 per cent growth in collections to Rs 2,590.71 crore.<br /><br />Among private players, ICICI Lombard’s premium collections grew 25.59 per cent to Rs 1,396.91 crore during the first four months of the current financial year.</p>