GST Removal Fuels 27% Surge in India's Life Insurance Premiums in November

• India's life insurance premiums increased by 27% in November.
• The growth is linked to the removal of Goods and Services Tax (GST) on certain insurance products.
• Private insurers saw a 28% growth, outpacing state-run LIC which grew 23%.
• SBI Life led large private players with a 33% rise in premiums, showing strong performance.
• Year-to-date, the industry's retail weighted received premium (RWRP) rose 7%, with private insurers growing 12% while LIC contracted 2%.

Why It Matters: GST removal caused a 27% surge in India's life insurance premiums, indicating market recovery.