Commission expenses among lndian life insurers FY 2021, by type

Published by Sandhya Keelery, Aug 30, 2024
In financial year 2021, the Life Insurance Corporation (LIC) of India spent 221 billion Indian rupees on commissions. Thereby, the commissions for renewable premiums and new business premiums are on the same level. Private sector companies spent 108 billion Indian rupees on commissions over the same period. Here, the expenses for new business commissions were much higher than for renewal.

Value of life insurers' commission expenses in India in financial year 2021, by type (in billion Indian rupees)

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Release date

December 2021

Region

India

Survey time period

FY 2021

Supplementary notes

First year premium includes regular and single premium and total premium includes first year and renewal premium.

LIC stands for Life Insurance Corporation.

India's financial year begins in April and ends in March. For example, FY 2020 started in April 2019 and ended in March 2020.

One Indian rupee is equal to 0.013 U.S. dollars and 0.012 euros (as of February 2022).

Values have been rounded for clarity.

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