In July 2024, private insurers sold 7.6 lakh policies, while LIC sold 16.3 lakh schemes. The first-year premium for private insurers grew by 7.3% YoY to Rs 13,379.2 crore. Meanwhile, LIC's first-year premium increased to Rs 18,430.6 crore, with its market share expanding by 270 bps YoY.