According to IRDA figures, LIC mopped up Rs 9,028.68 crore in the first quarter of the current fiscal compared to Rs 7,524 crore during the same period last year. It had 62 per cent market share.
Overall, the life-industry grew by about one per cent in the first quarter of the current fiscal, with premium rising mildly to Rs 14,456.34 crore against Rs 14,320.21 crore.
The private life insurers registered a negative growth of about 25 per cent during the first three months of the current fiscal. The 21 private life insurers managed to mop-up Rs 5,427.67 crore in the first quarter of the current fiscal against Rs 6795.64 crore during the same period last year.
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