Life insurers register 25% growth in 2009-10

The domestic life insurance industry has seen a sharp recovery by recording a growth of 25% in 2009-10 against deceleration of 6% registered in 2008-09. The 23 life insurers have mobilised a first year premium of Rs 1.09 lakh crore in 2009-10 compared to Rs 87,108 crore in the previous year. The market share of LIC has also increased to 65% in 2009-10 compared to around 61% in the previous year. LIC, during the year, collected a premium of Rs 70,891 crore compared to Rs 52,954 crore in 2008-09, thereby growing by around 34 % during the year. The other ...

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