Lost 60% business premium in March: LIC India
In these testing times, life insurance is an important essential service and the market leader in this domain by far is LIC. To understand how people are responding to the relaxation on premium payments and also whether this is a time to buy or sell equities or bonds, we are joined by the management of India's largest life insurer and institutional investor, Vipin Anand, MD, LIC India is in conversation with CNBC-TV18.
To understand how people are responding to the relaxation on premium payments and also whether this is a time to buy or sell equities or bonds, CNBC-TV18 spoke to Vipin Anand, MD, LIC India.
Speaking about lower collections of premium in March he said, “For the month of March, we lost more than 60 percent of our new business premium and almost 80 percent of the renewals for the month of March remains unpaid which we are hoping will come in the first quarter of the current year because Income Tax rebate has been allowed for premiums deposited up to 30th.”
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