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During 2016-17, the Life Insurance firms in the country have collected Rs 1,75,022.05 crore as premium from new policies.
According to a data from the Insurance Regulatory and Development Authority of India (IRDAI), Insurance companies had collected Rs 1,38,657.31 crore in 2015-16.
However, the number of policies insured in the last fiscal fell to 2,64,56,645 from 2,67,40,088 in 2015-16 that indicates high value policies subscribed by policyholders.
