LIC weighs on life insurers’ performance
The Hindu
Life insurers have reported a 5.55% decline in first-year premium at ₹12,976.99 crore for May, a performance dominated by market leader LIC’s mobilisation being 12.38% lower, and coming on the back of
Life insurers have reported a 5.55% decline in first-year premium at ₹12,976.99 crore for May, a performance dominated by market leader LIC’s mobilisation being 12.38% lower, and coming on the back of lockdown restrictions across the country. It effectively shadowed the show of private players, who together posted a 14.23% increase in the premium at ₹4,029.35 crore as against ₹3,527.48 crore in the year earlier period. The first-year premium of LIC, which accounts for more than 60% of the market share, stood at ₹8,947.64 crore (₹10,211.53 crore), according to new business statement of life insurers released by IRDAI.
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