Life insurance industry figures have been released by the IRDA. These figures include the individual single premium and individual non-single premium for linked and non-linked policies. The data gathered comprises the premium collected for the quarter that ended September 2011 as against the quarter that ended September 2010.
Individual Non-linked Life Insurance – Premiums and Policies
Non-linked life insurance has shown positive growth by collecting Rs 15,900 crore in 2011 as against Rs 11,935 crore in 2010. Life, Pension, and Health have shown good growth while General Annuity has shown a dip as compared to the corresponding period in the previous year.
Individual Linked Life Insurance – Premiums and Policies
Linked policies have suffered a major setback as compared to the previous year. The premiums collected for the quarter that ended September 2011 are only Rs 24,152 crore as against Rs 40,821 crore in 2010. The number of policies sold has come down drastically to 14,61,973 as against 64,00,113 in the previous year.
The figures for Individual Single Premium Policies are mentioned below. This does not include the amount for riders.
FY Premium for Life Insurance-Quarter ended Sept 2011
