Mumbai, Aug. 10 -- Life insurance companies in India mobilized New Business Premium (NBP) worth Rs.47,004.84 crore in July. This represents a 20.65% increase compared to the Rs.38,958.05 crore recorded during the same period last year, though it is only marginally higher than the Rs.46,490.53 crore collected in the preceding month of June.

In July, the state-owned Life Insurance Corporation of India (LIC) led the sector by recording a growth of over 23% in its New Business Premium (NBP), generating Rs.27,993.61 crore; the figure stood at Rs.22,617.64 crore during the same period the previous year.

Private life insurance companies (26 in number) recorded Rs.19,011.23 crore this month; this represents a 16% growth compared to the Rs.16,34...