‘Of 24 life insurers, only 19 post profits in FY16’

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The other five companies are: Aegon Life Insurance Company Ltd, Edelweiss Tokio Life Insurance, Bharti Axa Life Insurance, Future Generali India Life and Reliance Nippon.

State-owned Life Insurance Corporation (LIC) alone reported profit after tax at Rs 2,517.85 crore, an increase of 38.06 per cent over Rs 1,823.78 crore for 2014-15.

The report further said the total net profit of non-life insurance industry dropped to Rs 3,238 crore as against Rs 4,639 crore in 2014-15.

All the four public sector insurers reported net profit during the year 2015-16.

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