India's Life Insurance Premiums Surge 27% Post-GST Removal in November 2024

India's life insurance industry experienced significant growth in November, with retail weighted received premium (RWRP) rising 27% year-over-year, following the removal of the goods and services tax (GST) on select insurance products. State-owned Life Insurance Corporation of India (LIC) saw a 23% increase in premiums, while private insurers grew 28%, maintaining their lead in the market. Key private players such as SBI Life, Max Life, and HDFC Life reported substantial premium growth, with Bajaj Allianz Life leading at 39%.