|
Ever since the centre issued new set of rules to follow back in September last year, the private life insurers have witnessed a tragic dip in their growth to only two percent.
On the other hand, Life Insurance Corporation has revived in market with a 23 percent hike in their premium collections for fiscal 2010-11, thereby amounting to Rs 86,444 crore. Insurance Regulatory and Development Authority recently collected a data report which has stated that while the business premium collection from individuals has witnessed a decrease by four percent, thereby reaching a mark of Rs 3,041 crore only.
On the other hand, Life Insurance Corporation (LIC) has reported a considerable increase in its market share in business premium on account of new launched policies, thereby accounting to 68.7 percent against 64.86 percent reported in March, 2010. Other few companies who’ve grabbed the maximum of market share in premium include HDFC Life, ICICI Pru Life, Bajaj Allianz along with SBI Life. Source :-
|
