Life insurance: Experiencing the turbulent teens
Source: Asia Insurance Review | Jan 2014
The life insurance segment contributes about 4% to India's GDP in terms of total premiums underwritten annually. There are 23 private companies in the segment. The state-owned Life Insurance Corporation of India (LIC) dominates the field with about 71% of the market share. For the last three years, the new premium income of private players in the market has been falling and many are experiencing turbulent times. We speak to a few CEOs to understand the situation and the way ahead for them.
By Jimmy John
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