Overview
Following robust growth in FY23, first-year premium numbers in FY24 have been moving in a subdued manner. However, for February 2024, first-year life insurance premiums witnessed a surge of 48.4%, compared to a fall of 16.8% witnessed in the same period last year. The increase can be attributed to group single premiums, especially of LIC, and the strong monthly performance of the private insurers.
