Strong Performance Despite Policy Sales Decline Key Highlights: Overall Growth: Life insurance companies posted a 13.16% year-on-year (Y-o-Y) increase in new business premium (NBP), collecting ₹30,347 crore in October 2024.…
LIC’s Strategic Entry into Health Insurance Sector Key Developments: LIC’s Plans: Life Insurance Corporation of India (LIC) is set to make a decisive move into the health insurance segment by…
Life insurance companies in India reported a 13.16% year-on-year (Y-o-Y) growth in new business premium (NBP) for October 2024, collecting a total of Rs. 30,347 crore. This growth was largely…
Life Insurance Corporation of India (LIC) has announced its Q2 results for the fiscal year 2024, revealing a 13.77% increase in revenue compared to the same period last year. However,…
IRDAI’s Surrender Value Reforms Trigger Industry-Wide Response Key Points: LIC agents express concerns about recent commission reductions and a proposed clawback clause, potentially affecting earnings. New surrender value norms, effective…
Life insurance companies in India have reported a robust 14% year-on-year (Y-o-Y) increase in new business premiums (NBP) for September 2024, driven by substantial growth from both the state-owned Life…
Private-sector life insurers in India are actively working to revise their commission structures for distribution channels, following a significant regulatory shift that took effect on 1 October. This change mandates…
India's life insurance sector has experienced a remarkable compound annual growth rate (CAGR) of 12% and 10.5% in terms of new business premiums and annual premium equivalents, respectively, from fiscal…
Life Insurance Corporation of India launches an affordable life insurance solution for micro-finance institutions, SHGs, and more, effective from 7th October 2024. The Life Insurance Corporation of India (LIC) has…
LIC and Infosys Join Forces for Omnichannel Engagement Life Insurance Corporation of India (LIC), the country’s leading insurance company, has signed an agreement with Infosys to develop a cutting-edge digital…