Strict norms on ULIP sales begin to hurt insurers

New business premium income of life insurers declined in the first two months of the current fiscal as stringent regulations on sale of Unit-Linked Insurance Plans (Ulips) continued to weigh on the industry. Life insurers’ income from selling new po LIC )ies declined 12.3% year-on-year in April-May to Rs 12,253 crore, according to data from Insurance Regulatory and Development Authority (Irda). In April, new business income had fallen 12%

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