Thrust on non-par products to yield desired results: LIC chief M R Kumar

We intend to sharpen the focus on bancassurance to steadily and considerably increase its volume, thereby its share in our business, said Kumar

State-owned Life Insurance Corporation (LIC) is confident that its strategy to rejig the product portfolio by introducing more non-participating products and a sharper focus on the bancassurance channel will give it the desired results in terms of growth and market share.

“We intend to sharpen the focus on bancassurance to steadily and considerably increase its volume, thereby its share in our business,” LIC Chairperson M R Kumar said at the insurance major’s first-ever annual general meeting on Tuesday.

“Our tie-up with banks continues to be robust. We intend to work with all partner banks, and at the same time strengthen