The data released by the council is significant as this is the first time that such detailed data is being released on renewals. Most of the industry measures growth in terms of increase in the new business premiums or premiums paid for new policies signed up in each particular year The life insurance sector has been showing a 100 per cent growth in new premiums in recent years.

The data released by the council shows that unit-linked plans make up for 92 per cent of the single premium products. It also showed that the total number of policies in force at the end of 2006-07 is at 22.14 crore, which has gone up 15 per cent from 19.24 crore at the end of 2005-06.

The data also shows that the total number of group policies has grown a mere three per cent from 1.06 lakh to 1.10 lakh, while at the same time number of lives covered under the group policies has gone up by 16 per cent.