Public sector insurer Life Insurance Corporation of India (LIC) constant to maintain its market share for the 11-month period ended February 2011.
LIC has irregular up a total premium of R73,122 crore as against R54,320 crore reported during the same period in the previous financial year, recording a growth of 35(%) per cent. On the other hand, private sector companies together recorded a meagre growth of 4(%) per cent during the same period with a total premium of R30,756 crore. The insurance major notched a total premium of R5,986 crore in February 2011 and holds a total market share of 70.39%, according to a latest data.
However, the ticket size (calculated on individual non-single premium basis) of LIC stood at R7,597 for the period ended February, the data said.
Private sector companies together hold a market share of 29.61(%) per cent. For the month of February 2011 alone the total premium notched up by the 22 companies was estimated to be around R2.891.50 crore, the data maintained.
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