Sentences with phrase «new business premium»
Life insurance industry saw a 6.3 % drop in new business premiums for financial year fiscal 2012 - 13.
business-standard.com
The life insurance industry is likely to see a significant drop in new business premium collection following new regulations on unit - linked insurance plans, surrender charges and distribution channels.
This will be a convenient way for customers to pay their renewal as well as new business premiums.
Its growth in new business premium has gone down by around 3 per cent and that is posing a major challenge to the company.
New business premiums of life insurance companies saw a 4 per cent rise to Rs 13,854.44 crore in July 2016 as against Rs 13,319.97 - crore premium collected in the same month last year.
New business premium income rose by 25 per cent to Rs 1,09,213 crore from Rs 87,006 crore in 2008 - 09.
The total new business premium for the industry has decreased 21 per cent year - on - year to Rs 49,046 crore from Rs 62,362 crore.
Future Generali India Life Insurance Company today said it expects five-fold increase in new business premium at Rs 750 crore by the end of the current fiscal on the back of product launches in the current quarter.
Even though the Life Insurance Corporation of India increased its market share to 74 per cent in terms of total new business premium policies in March 2007, compared with 72 per cent in March 2006, it
As per the data compiled by the Life Insurance Council, an industry association comprising of 22 players in the sector, renewal premiums increased by around 24 per cent to Rs 73,952 crore compared to same period last year, while new business premiums increased by around 18 per cent to Rs 46,551 crore on year - on - year basis.
In another sign of weakening investment environment, the life insurance industry witnessed a 5 per cent decline in its total premium collections for the quarter ended June on the back of a sharp fall in new business premium during the quarter even as the renewal premium witnessed a double - digit growth.
SBI Life said the increase in net premium income was primarily due to increase in retail new business premium and also due to...
Life insurance grew 9 per cent, garnering a premium of Rs 10,624 crore with new business premium at Rs 4,491 crore and renewal premium at Rs 6,133 crore, the release said.
ICICI Prudential Life Insurance Company's annualised new business premium rose 77 per cent to Rs 1,256 crore in 2004 - 05.
Amongst the top private sector leaders HDFC Standard Life logged 28.83 % growth with Rs 1,409.29 crore new business premium while the rival ICICI Prudential Life clocked just 3.12 % growth for the period under review at Rs 1,258.89 crore.
During last financial year, Kotak Life collected Rs 1,400 crore in new business premium segment and Rs 1,500 crore in renewal premium segment.
In the last financial year, LIC had seen new business premiums at Rs 1.24 lakh crore with significant growth in group single premium policies, suggests the data from Insurance Regulatory and Development Authority of India (Irdai).
HDFC Life saw 18 % growth in overall new business premium collection.
They currently rank 8th among the U.S. term life marketplace, as measured by term life annualized new business premiums for 2015.
The company is a private life insurance competitor in India and holds new business premium market share of 7.9 % as of September 30, 2015.
17 September, 2015: Life Insurance Corporation of India has seen a decline in individual new business premium in April - July, losing 7.4 % market share to private players.
In FY» 10, the company's new business premium grew by 224 per cent.
Till December 2015, SBI Life Insurance raked in new business premium of Rs. 5,270 crores while renewal premiums for the company stood at Rs. 5537 crores.
New business premium income, however, declined to Rs 1,187 crore from Rs 1,536 crore in July - September 2007.
New business premium during this period stood at Rs 378 crore, compared with Rs 603 crore a year ago.
According to the Insurance Regulatory and Development Authority, total new business premium collection of life insurers till February stood at Rs 84,501.74 crore.
SBI Life said the increase in net premium income was primarily due to increase in retail new business premium and also due to increase in renewal premium from retail business
New business premium increased by 13 per cent to Rs 38,985 crore from Rs 34,529 crore for the corresponding period in 2008 - 09, it said.
The life insurer posted a 4.2 per cent rise in new business premium at Rs 2,702 crore for FY15.
As told by SBI Life Managing Director and CEO, Arijit Basu, SBI Life Insurance Company is predicting 40 % growth in new business premium in financial year 2016 - 2017.
Last year 39 percent of new business premium in life and health insurance lines for Allianz SE, Allianz Life Insurance of North America's parent company, was generated by capital - efficient products, Allianz SE executives told analysts in early February.
Meanwhile, traditional VAs, or unit - linked annuities with or without guarantees, last year accounted for 18 percent of the company's new business premium, down from 22 percent in 2015, the parent company said.
In 2015 only 30 percent of new business premium was generated by capital - efficient products, Allianz SE said.
New business premium in the company's U.S. life and health segment fell 13.3 percent to about $ 2.8 billion, Allianz reported.
The regulatory changes introduced since September 2010 have significantly reduced the new business premiums for ULIPs.
With the opening of the insurance sector, Ulips have emerged as popular investment products contributing more than 70 per cent of the new business premium income of life insurers.
For the financial year 2010 - 2011, Bajaj Allianz has been ranked the second best insurance company of India in terms of number of issued insurance policies and fourth on basis of new business premium.
The new business premium for the industry also decreased by 17 per cent year - on - year to Rs 71,953 crore from Rs 86,698 crore in the last nine months.
State - run Life Insurance Corporation's (LIC) new business premium was the highest at Rs 10,737.92 crore, up 3 per cent from Rs 10,421 crore in July 2015, according to the data collected by sector regulator IRDAI.
During April - July period of current fiscal, new business premium by all the 24 life insurers rose by 22.7 per cent at Rs 45,247 crore as against Rs 36,888.11 crore in the same period of the preceding financial year, the data added.
The total new business premium (NBP) for the life insurance industry decreased by 21 per cent year - on - year (Y - o - Y) to Rs 49,046 crore from Rs 62,362 crore, while the total number of policies sold in the pension segment came down to 0.6 lakh from 33.5 lakh Y - o - Y.
According to the data released by the Life Insurance Council on Monday, the industry witnessed a 28 per cent drop in its new business premium from Rs 25,522 crore last year to Rs 18,282 crore by the end of June 2011.
«If you consider the new business premium collected in last two years for the same period, the industry's premium collection has grown at 13 per cent CAGR despite a fall this year,» said the Life Insurance Council statement.
Against the regular decline in new business premiums that the industry witnessed between FY12 - FY15, the insurance industry is now gaining traction in premium collection and has reported 15 percent CAGR growth in new business annual premium equivalent (APE) over past two years.
Further, New business premiums of Max Life stood at Rs 217.39 crore from Rs 185.78 crore last year and Kotak Mahindra Old Mutual Life reported (new business premiums of) of Rs 157.25 crore as against Rs 128.34 crore July 2015.
Single premium policies helped state - owned behemoth Life Insurance Corporation mop up Rs 20,811 crore in new business premium...
During the same time, its new business premium hiked by 7.7 per cent.
Despite the recorded 12 % increase in the levels of new business premium (NBP) in AY 13 - 14, the industry declined by 5 % in AY 14 - 15 to Rs 1,131 BB.