First-year premium of private insurers rose 39.5% MoM to Rs 9,421.5 crore in May 2023, while LIC's premium increased by 141.9% MoM to Rs 14,056.3 crore.Overall, private insurers sold around 5.3 lakh policies in May 2023. While LIC sold 11.3 lakh schemes. Its market share dropped 310 bps YoY to 68.2%.