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Improved business sentiments and buoyant stock markets propelled life insurers to post 14% growth in premiums during the first half of FY 16 when compared to the same period last year.
Total life insurance premiums during the period ended September 30, 2015 stood at Rs 56,286.4 Crore as against Rs 49,178.17 Crore during the same period last year. Group single premiums during the same period moved up 45% to Rs 31,314.25 Crore.
"The growth was clearly led by positive industry sentiment on account of passage of the insurance bill, buoyant stock markets, political stability and overall improvement in the macro-economic environment in the first half," chief executive officer of IDBI Federal Life Insurance Vighnesh Shahane said.
