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Life insurers registered an extremely strong March with people investing in insurance products during the last month of FY21.
Private-sector new-business premiums grew 84% year-on-year; Life Insurance Corporation of India was up 65% YoY.
At end-March 2021, NBPs amounted to Rs 434 billion (Rs 254 billion a year prior).
The annual-premium equivalent for the private sector grew 89% YoY at end-March 2021.
For LIC, the sole public entity, it doubled YoY. At end-March 2021, total APE was Rs 163 billion (Rs 84 billion a year prior).
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