The insurance companies are growing at a high-speed recording an impressive growth. The Life Insurance Corporation of India (LIC) has grown at the rate of 40 per cent and has acquired premium income of over Rs 18,000 crore.

Private insurers like ICICI Prudential Life and Bajaj Allianz Life are well in pace with the insurance giant who have recorded a growth of 69 per cent and 292 per cent respectively. Overall the life insurance industry has grown by 52 per cent. Another entrant ‘Shriram Life’ has hit the insurance bandwagon, making the number rise to 15. These private insurance companies together collected premium income of over Rs 26,000 crore.

The insurance mammoth, LIC, continued to grow at 40 per cent, garnering premium of over Rs 18,000 crore. ICICI Prudential gained back its lost number one position by collecting Rs 1,956 crore and Bajaj Allianz garnered Rs 1,940 crore of premium income.

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