This document, dated 23rd November 2021, is a corrigendum to the Insurance Regulatory and Development Authority of India (IRDAI) Annual Reports for the financial years 2018-19 and 2019-20. It provides the following corrections:
For the 2018-19 Annual Report (Page 84, Points 2 and 4):
* The share of women in FY 2018-19 decreased to 31.78% in the number of policies, while the first year premium increased to 32.89%, compared to 32% on both counts in FY 2017-18.
* The proportion of women policies for private life insurers is 27%, and for LIC is 33.43%.
For the 2019-20 Annual Report (Page 16, Point ii):
* The share of women in FY 2019-20 increased to 32% in the number of policies and 34% in the first year premium, compared to 31.78% and 32.89% respectively for FY 2018-19.
The document is issued by the Chief General Manager (Life Insurance).
Key Entities Referenced
Insurance Regulatory and Development Authority of India (IRDAI): The primary regulatory body issuing the corrigendum.
Annual Reports 2018-19 and 2019-20: The annual reports that are being corrected by this corrigendum.
LIC: Life Insurance Corporation of India, referenced in the annual report.
Ref: Life/IRDAI/Annual Report 23rd November 2021
CORRIGENDUM TO ANNUAL REPORTS 2018-19 AND 2019-20
The following corrections in the Annual Reports for the financial years 2018-19 and
2019-20 are made and hence notified.
A) In Annual Report for the year 2018-19
I) Point Number (2) and (4) of Page Number 84 of Annual Report may be read as below
2. The share of women in the FY 2018-19 has decreased to 31.78% in number
of policies whereas it has increased to 32.89% in first year premium as
compared to 32% on both counts in FY 2017-18.
4. The proportion of women policies in case of private life insurers is 27%
and that of LIC is 33.43%.
B) In Annual Report for the year 2019-20
II) Point Number (ii) of Page No 16 of Annual Report may be read as below
ii. The share of women in the year 2019-20 has increased to 32% in number
of policies and 34% in first year premium compared to 31.78% and 32.89%
respectively for FY 2018-19.
The Authority regrets the error and inconvenience, if any.
Chief General Manager (Life Insurance)