India's Life Insurance Sector Posts 12% Premium Growth Amid GST Reduction

India's life insurance sector experienced significant growth with a 12% increase in total premium income for November, reaching Rs 15,249 crore among private insurers. The Life Insurance Corporation of India (LIC) maintained market dominance by recording a 23% rise in premium income, while SBI Life led private sector growth with a 34.4% increase. October's overall premiums also increased by 12.1% year-on-year to Rs 34,007 crore, driven by strong individual policy sales, especially recurring premium plans, following a GST reduction on health insurance policies which improved affordability.