Private insurers sold 7.8 lakh policies in February 2024, while LIC sold 17.2 lakh schemes. The first-year premium of private insurers grew by 27.8% YoY to Rs 14,017.2 crore in the same period. While LIC's premium rose YoY to Rs 19,896 crore, its market share jumped by 670 bps YoY.