The private life insurance sector saw a decline of four per cent to Rs 30,451 crore in the first year premium income during the 2010-11 fiscal.
As many as 10 companies, of the total 22 private players accounting for 36.8 per cent of the total life insurance industry, witnessed a decline in first year premium income, as per an analysis of data released by IRDA .
At the end of fiscal 2010-11, the private sector life insurance companies mopped up Rs 30,451 crore, against Rs 31,618 crore in the April-March period of previous fiscal.
In terms of policy sales also, the private players saw a huge decline of 23 per cent for the year ended March 2011 at 1.11 crore.
The companies which witnessed a surge in the first year premium figures include