Life insurers reported a 16.6% year-on-year rise in new business premium (NBP) during the April-June quarter of FY27, with private sector insurers growing faster than the state-run Life Insurance Corporation of India (LIC), aided by robust growth in regular premium products.According to industry data, life insurers collected Rs 1.09 lakh crore in new business premium during the first quarter, compared with Rs 93,544 crore in the corresponding period last year, according to the data collated by Life Insurance Council.Private life insurers recorded a 27.5% increase in new business premium to Rs 43,522 crore from Rs 34,134 crore a year earlier, while LIC posted a relatively slower 10.3% growth, with NBP rising to Rs 65,548 crore from Rs 59,410 crore.LIC, which continues to account for nearly 60% of the industry's new business premium, also saw steady momentum in its retail business. Regular premium collections rose nearly 20% year-on-year, while individual single premium business increased 9.3%, aided by sustained demand across retail segments alongside institutional business.The first-quarter performance comes amid improving demand for life insurance products, with insurers focusing on protection, annuity and savings offerings as they prepare for upcoming regulatory changes, including the transition to new accounting and capital frameworks over the next two years.The growth in income of private insurers was driven largely by growth in group single premium business, although demand for individual protection and regular premium products also remained healthy.Among listed insurers, SBI Life Insurance emerged as the fastest-growing player during the quarter, reporting a 22.6% year-on-year increase in new business premium to Rs 8,905 crore.ICICI Prudential Life Insurance posted a 21.3% rise in new business premium to Rs 4,866 crore, supported by healthy traction in regular premium and group single premium business.Axis Max Life Insurance reported a 17.5% increase in new business premium to Rs 2,964 crore during the quarter. HDFC Life Insurance recorded a 12.6% growth to Rs 8,432 crore.The industry's performance showed that private insurers continue to gain market share in new business by expanding their presence in group insurance while maintaining growth in individual business. However, LIC retained its dominant position in absolute premium collections owing to its extensive distribution network.