Life Insurance Corporation has outperformed its peers in the private sector by recording a 7.26 per cent growth in premium collection during the first half of the current fiscal.
Several large private sector insurance companies, including ICICI Prudential, HDFC Standard Life and SBI Life, witnessed a decline in premium collection during the April- September period compared to the same period last year.
The data released by the Insurance Regulatory and Development Authority (IRDA) said the performance of a host of small private sector insurance companies, including Sahara Life, Edelweiss Tokio and Future Generali, has been muted.
LIC witnessed a 7.26 per cent growth in premium income to Rs 37,906 crore during the six-month period ending September.
However, the 23 private sector players’ premium income grew 4.55 per cent to Rs 12,150 crore during the period.