Page 38 - Insurance Times April 2019

Insurer 2016-17 2017-18
Renewal Premium (4)
LIC 175904.05 183551.51
(4.36) (4.35)
Private Sector 67369.89 81104.03
(12.99) (20.39)
Total 243273.94 264655.54
(6.62) (8.79)
Total Premium [5 = (3+4)]
LIC 300487.36 318223.20
(12.78) (5.90)
Private Sector 117989.26 140586.24
(17.40) (19.15)
Total 418476.62 458809.44 Market Share
(14.04) (9.64)
On the basis of total premium income, the market shares
Note: Figures in brackets indicate the growth (in percent) of LIC decreased from 71.81 percent in 2016-17 to 69.36
over the previous year. percent in 2017-18. The market share of private insurers has
increased from 28.19 percent in 2016-17 to 30.64 percent
in 2017-18.

MARKET SHARE : LIFE INSURERS
(in percent)
Insurer 2016-17 2017-18
First Year Premium (1)
LIC 44.31 42.82
Private Sector 55.69 57.18
Total 100.00 100.00
Single Premium (2)
LIC 84.83 82.95
Private Sector 15.17 17.05
Total 100.00 100.00
New Business Premium (3 =(1+2))
LIC 71.11 69.36
Private Sector 28.89 30.64
Total 100.00 100.00
Renewal Premium (4)
LIC 72.31 69.35
Private Sector 27.69 30.65
Total 100.00 100.00
Total Premium [5 =(3+4)]
LIC 71.81 69.36
Private Sector 28.19 30.64
Total 100.00 100.00

38 The Insurance Times, April 2019