According to a latest data shared by the Insurance Regulatory and Development Authority of India (IRDAI), new premium income for all 24 life insurers witnessed a collective 6.38 per cent growth of Rs. 21,509.25 crore in July 2019 from Rs. 20,219.26 crore in July 2018. The biggest life insurer LIC, which holds a market share of 73.17 per cent as per premium, saw a growth of 3.10 per cent in new premium at Rs. 15,311.87 crore in July 2019 compared to Rs. 14,851.77 crore in July 2018. For private sector players, the growth rose to 15.46 per cent from Rs. 5,367.49 crore in July 2018 to Rs. 6,197.37 crore in July 2019.