India's Life Insurance Premiums Rise Over 21% in January Amid GST and Regulatory Changes

India's life insurance sector saw a 21.5-22% year-on-year rise in new business premiums in January, marking the third consecutive month of strong growth aided by GST rate reductions and regulatory changes. LIC led with a 25% increase, while private insurers collectively grew 17%. A total of 2.8 million policies were sold, with cumulative premiums for April-January reaching 3.38 lakh crore. Growth factors include GST rationalisation, surrender value norms, and accounting standard normalisation for non-life insurers.