INSUBCONTINENT EXCLUSIVE:
It is an established business maxim that incumbent leader sheds its dominance in an industry that ends monopolies by law
New Delhi unshackled business.
On last day of 2018, premier insurer had a leadership change, with chairmanship of VK Sharma coming to an end
During his tenure, insurance giant lost another 5 per cent market share, putting a question mark on model of a business that was created on
unlinked insurance products with commission of less than 10 per cent as LIC still relies on high commissions for agents, making its products
way of adjusted premium equivalent has fallen from 53 per cent in FY16 to 48 per cent in second half of FY19, according to data collated by
of Rs 27,800 in FY16, which rose up to Rs 36,000 at end of 2017-18
In same period, private sector insurers increased their share from 47 per cent to 52 per cent
This is when SBI Life increased its share from 9 per cent to 12 per cent and ICICI Prudential Life retained its APE market share at 10 per
provides annual payment to buyer at regular intervals, usually fixed returns, after retirement
LIC dominates annuity business with a 95 per cent market share
LIC reprices annuity products intermittently, especially when rates move.
Annuity products, by contrast, have huge risks, as they offer high
return and cover life risk guarantee
as Kotak and Tata AIA are focusing instead on regular premium products
said a former LIC executive
