Private life insurers reported a 24% growth in individual annualised premium in July as unit-linked products continue to drive premium volumes. Insurers focused on Ulips are growing at a faster clip than others. State-owned Life Insurance Corporation of India reported an 18% decline in individual annualised premium. However, it recently launched a linked-product, which could drive its market share in the next few months. Category-wise, single premium accounts for 30% of the business for private sector.
