 "LIC")
Life Insurance Corporation (LIC) of India has gained almost 4.5 percentage points market share in the current financial year (2022-23, or FY23) in new business premium (NBP) from private players, mainly on account of robust growth in its group business segment.
According to the latest data released by the insurance regulator – the Insurance Regulatory and Development Authority of India - LIC improved its market share by 67.72 per cent as of October, a gain of 447 basis points (bps), while private sector insurance companies’ market share dropped to 32.28 per cent.
At the end of 2021-22, private players had
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