New premium income declines by 5.6% to 12,976 cr in May; LIC reports 12.4% dip

- LIC reported a 12.4% dip in its new premium or the first year premium income to ₹8,947.64 crore in May, this year
- 23 private-sector insurers posted a 14.2% rise in their combined new business premium in May 2021