Insurance Regulatory and Development Authority of India’s (IRDAI) monthly data shows that the annualized premium equivalent (APE) has been muted for the first two months of FY24.
In the first half of the financial year 2022-23, there is a spike of 13% in the number of policies sold. Life Insurance companies collectively sold 1,17,66,197 policies out of which 83,74,748 was sold by LIC solely.