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IRDA: New business premium in life
New business premium in the life insurance segment increased by 12 per cent in the year ended March 31, 2014, compared to the previous year, according to T S Vijayan, Chairman, Insurance Regulatory and Development Authority (IRDA). ?We have got only provisional, unaudited figures so far. The growth in the non-life sector was around 13 per cent,?? Vijayan told Business Line on the sidelines of the first Insurance Awareness Day celebrations organised by IRDA here on Saturday. During the year 2012-13, total premium in life and non-life insurance stood at Rs 2.87 lakh crore and Rs 63,000 crore respectively.
