LIC Clocks Tepid Growth As Private Insurers Continue To Gain Market Share

Market share trends demonstrate that while October was a relatively muted month for Life Insurance Corp., they have largely been able to hold on to market share year-to-date.The Life Insurance Council, India, released the numbers for October 2023. On the back of this and using HSBCs note, we have broken down the numbers for perspective.The industry’s annual premium equivalent grew by a modest 5% YoY, with LIC continuing to demonstrat…