National insurer life Insurance Corporation has registered a 13.46 per cent rise in first-year premium (FYP) income, collecting an all-time high income of Rs 1,34,551.68 crore in FY18, and ending the year with a market share of 69.40 per cent, the company said on Thursday.
"The Corporation collected an all-time high first-year premium income of Rs 1,34,551.68 crore in FY18, a growth of 13.46 per cent from Rs 1,24,451.42 crore in FY17," it said in a statement.
"lIC continues to retain its market leadership with a market share of 69.40 per cent in terms of first-year premium income and 75.67 per cent when it comes to number of new policies sold," the Corporation added.
The insurer also did well on group and pension scheme, notching up Rs 82,807.83 crore in new-business premium income, securing 81.38 per cent market share.