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( As on 14/04/2011 00:00) Birla Sunlife insurance records Rs 115.72 crore fresh premium collections in February 2011

In February 2011, the premium collection of Birla Sunlife Insurance fell by 29.4% to Rs 115.72 crore against Rs 163.91 crore in February 2010.

The fresh premium collection fell to Rs 115.72 crore in February 2011 from Rs 129 crore in January 2011, Rs 141.76 crore in December 2010.

During February 2011, the company bagged a market share of 1.3% in total fresh life insurance premium collection. The fresh premium collection of 22 private players fell by 10.8% to Rs 2891.44 crore during February 2011.

Life Insurance Corporation of India’s fresh premium collection rose by 12.9% to Rs 5,986.28 crore during February 2011.

Moreover, for FY2011, the premium collection fell by 29% to Rs 1,681 crore against Rs 2,368 crore during April-February FY 2010 while the market share fell by 1.62% for FY 11 against 2.82% during the April-February 2010.

During FY 2010, the fresh premium collection of the insurance firm rose by 4.8% to Rs 2,958.45 crore against Rs 2,823.91 crore during FY2009.

On the other hand, in terms of fresh premium collection, the market share rose in FY 2008 and FY 2009. It then fell to 2.71% in FY 2010 and further fell to 1.62% during April-February FY2011.

The number of policies issued fell by 67.7% to 47,840 while number of life covered fell by 51.1% to 17,435 during February 2011.

The insurance company has sold 9.2 lakh policies during April-February FY 2011 while covered 6.35 lakh lives in turn recording a growth of (-) 41% and (+) 29.4%, respectively.

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