Page 39 - Insurance Times April 2019

The market share of private insurers in new business
premium was 30.64 percent in 2017-18 (28.89 percent in
previous year). The same for LIC was 69.36 percent (71.11
percent in previous year). Similarly, in renewal premium, LIC
continued to have a higher share at 69.35 percent (72.31
percent in previous year) when compared to 30.65 percent
(27.69 percent in previous year) share of private insurers.

New Policies
During 2017-18, life insurers issued 281.97 lakh new
individual policies, out of which LIC issued 213.38 lakh
policies (75.7% of total new policies issued) and the private
life insurers issued 68.59 lakh policies (24.3% of total new Paid-up capital
policies issued). While the private sector achieved a growth
of 8.47% in the number of new policies issued against the The total capital of the life insurance companies as on 31st
previous year, LIC achieved a growth of 5.99%. March, 2018 was Rs. 27264.37 crore. During 2017-18, an
additional capital of Rs. 307.43 crore was brought in the
industry by the private sector insurers.
NEW POLICIES ISSUED: LIFE INSURERS
(In lakh)
PAID UP CAPITAL* : LIFE INSURERS
Insurer 2016-17 2017-18 (Rs. crore)
LIC of India 201.32 213.38 Insurer As at Additions As at
(-2.02) (5.99)
31st March, during 31st March,
Private Sector 63.24 68.59 2017 2017-18 2018
(2.13) (8.47)
LIC 100.00 0.00 100.00
Total 264.56 281.97
Private Sector 26856.94 307.43 27164.37
(-1.05) (6.58)
TOTAL 26956.94 307.43 27264.37
Note: Figures in brackets indicate growth (in percent) over
previous year * Excludes Share premium & Share application money

Insurance Quiz

1. Which is the world first insurer to offer a product that covers battery performance
2. Indian pet market is estimated at _______

3. Which life insurance company is focussing on living benefits

4. Which covers has been proposed to be removed from Ayushman Bharat
5. Who has been appointed member non life IRDA

6. Which company has launched smart esurvey

7. Which health scheme has been merged with Ayusman Bharat in TamilnadU
The answers of the quiz are from this issue itself. Just go through our journal and you will find the answers. Send your
answers by Email to insurance.kolkata@gmail.com and you can get a chance to win an attractive gift. The gift will be
offered to the person giving all the correct answers. If we receive more than one entry with all correct answers the
name of winner will be drawn from lottery. The last date of receipt of entry is 25th April, 2019.
So Hurry and Submit your entry at the earliest !!!!

The Insurance Times, April 2019 39