The Insurance Regulatory and Development Authority's new norms for unit-linked insurance plans (Ulips) have affected the business of life insurance firms. In September, new business income fell 48% as against August.
Also, the life insurance companies have received Rs 9,613-crore premium by selling new policies in September as compared to Rs 18,500 crore in August. The private companies have registered a marginal growth of 0.13% in the first premium income.
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