LIC market share dips to 76.19 per cent
13 Sep 2005
New
Delhi: LIC, along with thirteen other private players,
have mopped up Rs6,522 crore in premium in the first four
months of this fiscal by selling about 62 lakh new policies.
The state-owned life insurer sold 55 lakh new policies and clocked an 8.74 per cent rise in premium income at Rs4,970 crore during April-July this fiscal, according to data released by IRDA.
The insurance behemoth's market share has come down to 76.19 per cent in July compared to 82.72 per cent a year ago. Amongst the private players, Birla Sunlife has shown a decline of over 17 per cent in premium income. Overall the thirteen private players have increased their market share to 23.81 per cent from 17.28 per cent a year ago.
ICICI Prudential still leads the private pack with a market share of 7.12 per cent after logging 49 per cent growth in business at Rs464 crore. Bajaj Allianz was at the second spot with a market share of 4.18 per cent, followed by HDFC Standard (3.05 per cent), Tata AIG (1.75 per cent), Birla Sunlife (1.72 per cent), SBI Life (1.47 per cent), Max New York (1.33 per cent) and Aviva (1.11 per cent).
