Overview
Following robust growth in FY23, first-year premium numbers in FY24 have been moving in a subdued manner. For the month of October 2023 witnessed an increase of 7.6%, breaking the fall observed for the last three months. Despite this improvement, the performance still compares unfavourably against the growth of 15.3% witnessed in the same period last year. The private insurance sector played a mitigating role by counteracting the dip in LIC premiums.
