Overview

• The industry collected Rs 30,463 crore in premiums in May, marking a 12.7% increase over last year.
• New business premiums grew 12.6% in May, reflecting stronger demand among first-time buyers.
• New business collection for the first two months of the fiscal climbed to Rs 52,427 crore, up 10.8% from Rs 47,293 crore.
• HDFC Life led gains with a 33% jump to Rs 3,022 crore; SBI Life’s premiums rose 25% to Rs 2,950 crore, and LIC’s climbed 10% to Rs 18,405 crore.
• Despite rising premium values, the number of policies and schemes sold in May declined by nearly 10% to 16.73 lakh.