The total assets of life insurance companies went up by 11.38 per cent
New Delhi, Aug 22: In the first quarter of 2011-12, the total assets which have been managed by life insurance companies increased by 11.38 per cent to cross Rs 15 lakh crore. According to data compiled by industry association Life Insurance Council, as many as 22 life insurance companies had had assets under management (AUM), including equity and fixed income assets, of Rs 15, 04,629 crore in April-June 2011 quarter while at the end of the June quarter, 2010 the AUM of these players was Rs 13,50,850 crore .
During April-June quarter 2011, the increase in AUM was on account of 13 per cent rise in renewal premium income to Rs 37,221 crore . In the same period last year, renewal premium of these companies was Rs 32,959 crore. However, the total premium income of the companies went down by 5.18 per cent to Rs 55,523 crore from Rs 58,559 crore in the year ago period.
In addition, the industry’s new business premium income went down by 28 per cent to Rs 18,282 crore during the quarter under review against Rs 25,522 crore last year. The council’s data further showed that in the year ago period, the number of life insurance agents went down to 24.27 lakh from 28.16 lakh.
