The industry collected Rs 1,41,584 crore as against Rs 1,38,253 crore last year, the Life Insurance Council said in a statement Friday.
The individual new business booked was Rs 63,356 crore as against Rs 62,739 crore in the same month last year, showing a growth of a paltry 1 percent.
The group new insurance business showed a faster growth of 3.59 percent, with the overall business increasing to Rs 78,228 crore from Rs 75,514 crore a year ago.
The state-run behemoth LIC led both in new business premium collection with a 66.49 percent market share and also new business by policies with a 73.33 percent share of the pie, it said.
HDFC Life came second on the new business premium collection front with a 7.02 percent market share, and SBI Life was came next with a 5.78 percent market share, the statement said.
ICICI Prudential Life was the fourth in the pecking order both by new premium collection and also new policies, with a 4.82 percent and 3.48 percent share, respectively, it said.