The Life Insurance Corporation of India (LIC) has bounced back to regain 91.5 per cent of the market in the second quarter of fiscal 2003.
The state life insurance player had in the first quarter lost 11 per cent of the market to the new private insurance companies, when its new business premium income clocked just Rs 906 crore, against the industry premium of Rs 1,050 crore in the first three months of fiscal 2003.
Today, LIC is strutting tall again, with a four-fold increase in its new business income at Rs 3,697 crore in the second quarter of the fiscal. This represents an industry share of 91.5 per cent of the new business that amounts to Rs 4,039 crore.
According to figures given by the Insurance Regulatory and Development Authority (IRDA), LIC
