Life insurance premium collection down by 22%

The premium collection of the life insurance industry in India dipped 21.8 per cent to Rs 26,794 crore during the April to July period as against Rs 34,249 crore reported in the corresponding period last year. According to the data collected by Insurance Regulatory and Development Authority (Irda), during the first quarter of the financial year, premium collection of the Life Insurance Corporation (LIC) during the first four months fell by 20.5 per cent to Rs 19,406 crore from Rs 24,430 crore, a year ago. Whereas for the 22 private life insurers, the first year premium collection was down by around 25 per cent to Rs 7,388 crore as against Rs 9,818 crore collected a year ago. Premium collection were down by 28 per cent during April-June period

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