The life insurance sector has witnessed a couple of turbulent years ever since the pandemic began, with growth rates plummeting the first year because of supply-side issues, and just when they were stabilising from the initial impact of Covid, the second wave hit insurers hard as a flurry of death claims ate into their profitability. After the second wave of the pandemic, growth for the sector has picked up, with the easing of supply-side issues; the industry looks set to register double-digit growth in FY22.
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