The first-year premium of private insurers declined 71.1% MoM to Rs 6,755.2 crore in the same period, while LIC's premium fell 79.8% MoM to Rs 12,565.3 crore. Overall, Private insurers sold around 4.1 lakh policies in April 2023. While LIC sold 7.8 lakh schemes, its market share declined 330 bps YoY to 65.8%.