In December 2023, private insurers sold around 9.5 lakh policies, with their first-year premium rising 4.1% YoY to Rs 15,599.8 crore.In contrast, LIC sold 17 lakh schemes, witnessing a 93.8% YoY increase in first-year premiums to Rs 22,981.3 crore. Its market share also increased by 15.4 percentage points YoY.