Spat forces insurers to revise Ulip sales target this fiscal...

Though the Insurance Regulatory & Development Authority (Irda) is leaving no stone unturned to stop capital market regulator Sebi from encroaching its exclusive turf on regulating the unit-linked insurance plans (Ulips), life insurers are now gearing up for any eventualities. Life insurers, who had started the new fiscal with enthusiasm on the backdrop of faster economic recovery and better-than-expected performance in 2009-10, are now reducing their Ulip sales target for the current year. During 2009-10, out of over Rs 1 lakh crore of total fresh insurance premium, almost 80% to 85% had been generated from Ulip sales by the 23 ...

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