The new business premium of life insurance companies rose more than 5% in May to ₹32,030.84 crore compared to ₹30,463.21 crore a year earlier even as the number of policies/scheme sold remained a tad lower.Market leader, the State-owned Life Insurance Corporation of India reported a 3.5% increase, in the new business premium during the month, to ₹19,042.16 crore (₹18,405.05 crore).LIC mobilised ₹4,584.1 crore (₹4,030.2 crore) in individual premium and ₹14,458.1 crore (₹14,374.9 crore) in group premium. It issued 10.35 lakh policies/schemes as against 10.68 lakh in the same period of previous fiscal.The 26 private life insurers collectively registered a more than 7% increase in new business premium at ₹12,988.68 crore (₹12,058.16 crore), per data released by the Life Insurance Council. It came on a 5% increase in the number of policies/schemes issued to 6,35,567 (60,4,510).Analysing the numbers, Emkay Research said the protection segment is expected to have maintained its momentum in May-26, while the savings business, including linked and non-linked products, likely witnessed some softness amid the uncertainties related to geopolitical tensions.According to the Council, for the two months of the fiscal ended May, the life insurers’ new business was 19% higher at ₹62,581.22 crore (₹52,427.40 crore) on a 5% increase in the number of policies/schemes sold at 29,61,552 (28,19,089). In May alone, they sold 16,71,341 (16,73,097) policies/schemes. Published - June 10, 2026 09:39 pm IST