Insurers' new biz grows 22% to Rs 55,355 cr

New businesses of the life insurance companies grew 22% to Rs 55,355 crore in the first eight months of the current fiscal as against the corresponding period last year. The industry mopped up Rs 45,337 crore during the same period last fiscal, according to an Insurance Regulatory & Development Authority (Irda) data. Among 23 players in the sector, the market share of LIC jumped to 66% to Rs 36,448 crore during the first eight months of 2009-10, from Rs 25,219 crore during the same period last fiscal. However, the private life insurance industry has declined 6%. The 22 private insurers ...

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