LIC's bancassurance business growing steadilyLife Insurance Corporation of India (LIC) is growing its bancassurance business steadily.
Apnainsurance.com Research Bureau
13 Feb 2008
Life Insurance Corporation of India (LIC) is growing its bancassurance business steadily. With a 60 per cent growth spurt year-on-year in bancassurance sales, this is becoming a viable revenue channel for the insurer. More banks are getting eager to sell the public sector behemoth's insurance policies. Of the 26 bancassurance partners, Andhra Bank leads the list in terms of number of policies sold and first premium income. LIC's other major partners in this channel include UCO Bank, Corporation Bank, Central Bank of India, and Dena Bank.