LIC reigns supreme in group covers

 Private insurance players however, are making strong beelines to capture market share in group corporate business as a single policy offers sizeable premium income.

 The 12 private insurance players have been able to capture only 4.74 per cent of the group premium business, which, as per the Insurance Regulatory Development Authority (Irda) figures, aggregated to Rs 626.36 crore as of July 2003. In terms of actual numbers, LIC has retained 93.42 per cent of the 3,100-odd policies sold.

 This is even as many corporates and banks have their own group insurance outfits, and there is aggressive bidding for these covers.

 LIC