Home / Companies / News / New premium business of LIC rises 25% in FY20, market share up 1.2%

New premium business of LIC rises 25% in FY20, market share up 1.2%

In FY20, premiums from LIC's pension and group schemes clocked Rs 1 trillion mark

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LIC has a market share of 76 per cent in the number of policies sold as of March 2020 and in terms of new business premium the corporation reported a market share of 68.74 per cent

Subrata Panda

1 min read Last Updated : Apr 28 2020 | 12:54 AM IST

Life Insurance Corporation (LIC) on Monday reported 25 per cent growth in new business premium in FY20, which is higher than the growth reported by the private insurers. The national insurer’s performance has propelled the industry’s growth in new business premium for FY20 to 20 per cent.

LIC’s composite market share in terms of number of policies and the first-year premium stood at 75.9 per cent and 68.74 per cent, respectively, recording a respective increase of 1.19 per cent and 2.5 per cent, LIC said.

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In FY20,

Topics : Life Insurance Corporation of India LIC insurance premium death claims

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