Ever since its inception, Life Insurance Corporation of India, or LIC, has always enjoyed supremacy over private life insurance companies, thanks to its dominant market share. Now, days ahead of filing the DRHP for its IPO, data indicates that LIC has lost market share in multiple segments.
FY22 has not been a very pretty year for the life insurance behemoth so far--LIC has lost a market share of 500 basis points, that is 5 percent, to the private life insurance industry in the first 10 months of FY22.
Who has LIC been losing this market share to? HDFC Life and SBI Life have gained market share of 112 basis points and 178 basis points each, respectively, while ICICI Prudential Life gained 38 basis points and Max Life has inched up by about 11 basis points.
Watch the accompanying video of CNBC-TV18’s Yash Jain for more details.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Punjab Lok Sabha elections: Check full list of AAP candidates and constituencies
May 18, 2024 12:59 PM
PM Modi, Rahul Gandhi election rallies in Delhi today: Here are the routes to avoid
May 18, 2024 11:28 AM