Is LIC Getting A New Lease Of Life?

Insurer has begun to regain market share from 66% in 2018-19 to 71% this Nov: Report

- Surabhi

In the face of competition from two dozen private sector life insurers, the market share of state-run behemoth Life Insurance Corporation of India declined for a second consecutive year in 2018-19, though it continued to enjoy the lion’s share.

On the basis of total premium income, LIC’s market share fell to 66.42 per cent in 2018-19 from 69.36 per cent in 2017-18, according to data released by the Insurance Regulatory and Development Authority of India (IRDAI) in its Annual Report.

The market share of aggressive private insurers rose to 33.58 per cent last fiscal as against 30.64 per cent in 2017-18.