In May 2024, private insurers sold 6.2 lakh policies, while LIC sold 12.5 lakh schemes. The first-year premium for private insurers grew by 9.7% YoY to Rs 10,333.4 crore. Meanwhile, LIC's first-year premium increased to Rs 16,690.4 crore, with its market share rising by 190 bps YoY.