Reliance Life Insurance has sold 13,12,389 policies between April and November,2010. Company which beats its own number of 12,61,668 policies which they sold in previous year, according to IRDA.

Mr Niraj Jain, Principal Officer & CEO of Bonsai Insurance, Broking firm that launched India’s first Online Portal www.insurancemall.in , said “Reliance Life has wide-ranging products, catering the need of every section of the society, and its quality service helped them to increase their business.”

After Reliance Life, Bajaj Life Insurance and ICICI Prudential who sold highest number of policies in this financial year. Bajaj sold 9,49,183 policies where as ICICI Prudential who sold 8,26,904 policies.

But there is no competition for LIC. Country’s largest insurer continues to lead the tally when it comes to the policy sales. LIC who sold 1,93,54,765 polices in the first eight months in this year.

According to IRDA, life insurance companies have increased their new first-year premium collection. Industry has witness 39% rise in premium collection from 55 thousand crore of last year to 76 thousand.

Private insurers have started performing well. As per the data of IRDA, in the period of April-November life insurance new business has grown to 14 per cent.

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