In the case of group insurance policies LIC had covered a total of 13,68,169 lives last month while the private insurers have covered a total of about 1.81 crore.In terms of premium income LIC’s new business premium last month was Rs 13,500.78 crore (Rs 15,548.06 crore in October 2020) while the 23-private insurers have together earned Rs 8,105.46 crore (Rs 7,227.96 crore in October 2020).Interestingly, in the group business, last month LIC had earned a premium of Rs 8,961.13 crore covering about 13.68 lakh individuals (Rs 8,855.45 crore covering 12,39,827 lives).On their part, the private life insurers last month earned about Rs 2,841.54 crore covering about 1.81 crore lives (Rs 3,009.7 crore for covering about Rs 1.24 crore).
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