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Of the 24 life insurance companies operating in India, only 19 insurers remained profitable in 2015-16 with the sector’s overall profits dipping by 2.57 per cent.
During 2015-16, the life insurance industry reported profit after tax at Rs 7,414.97 crore as against Rs 7,611.31 crore for 2014-15, said the annual report by Insurance Regulatory and Development Authority of India (IRDAI).
The life insurers which reported profit are: AvivaLife, Bajaj Allianz, Birla SunLife, Canara HSBC, DHFL Pramerica, EXIDE Life, HDFC Standard, ICICI Prudential, IDBI Federal, India First, Kotak Mahindra, Max Life, PNB MetLife, Sahara India, SBI Life, Shriram Life, Star Union, Tata AIA and LIC of India.
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