LIC aims to reach a mix of 75:25 between par and non-par in individual biz

The corporation has launched only non-par products this year, which cater to specific segments in its drive to increase the non-par business

State-owned insurance behemoth Life Insurance Corporation (LIC) is aiming to achieve a mix of 75:25 between participatory (par) and non-participatory (non-par) businesses in the individual segment in the next few years and once that happens, it will give a significant push to the value of new business (VNB) and VNB margins of the corporation, the management said in an analyst call after the company’s Q2 results.

As of H1FY23, the non-par share on an individual annaulised premium equivalent (APE) basis of LIC stood at 8.99 per cent; the par share stood at 91.09 per cent. In the March quarter of