Home   >>    Insurance   >>    Life Insurance   >>     Overview

LIC lags in generating new business

LIC is lagging behind the upstarts when it comes to generating new business. Its worst sales figures in a decade slowed down sales for the entire life insurance industry.

Apnainsurance.com Research Bureau

04 May 2008

Life Insurance Corporation of India (LIC) is lagging behind the upstarts when it comes to generating new business. Its worst sales figures in a decade slowed down sales for the entire life insurance industry.

A mere 6% increase in first premium income in '07-'08 compares very unfavorably with the private players' increase of over 73%.

This means that LIC's grip on the life insurance market has come below the two-thirds mark. This share was nearly three-fourth at the end of the '06-'07 financial year.