LIC Records a 50% Drop in New Business Premium

By : Sachin Gupta Published : 18 May 2023

LIC records a 50% Drop:

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A drop of New Business Premiums in the Insurance Industry

[{"selector":"#anim-5e228f99-0681-49fb-af2f-049bb72db921 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-d442e438-20c8-4d48-a11c-c0c2e788b295","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8ad7fe23-3107-4ab7-a8ee-16eb2a24001c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-af7876aa-4caa-4481-893b-dd2e77ac63f8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-83369457-4501-4e55-891d-94dffdd31d1a","keyframes":{"transform":["translate3d(0px, 94.68761%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] The new business premium for the entire life insurance sector also fell by 30% in April compared to the previous year. However, businesses in the private sector showed a growth of 8.5%.

What is New Business Premium?

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Reason for the drop in New Business Premium

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