LIC looks at 9% premium growth in bancassurance

Country s largest life insurer, Life Insurance Corporation of India (LIC), is looking at increasing its income from bancassurance channels to 9% in the current fiscal, from the existing 3%. Our premium income through bancassurance channel is currently at Rs 1130 crore, which comprises 3% of company s total premium income. However, we are planning to increase it to Rs 5,000 crore by the end of the fiscal. In case it happened, then the bancassurance channel s share in our total premium income will increase to 8-9% by the fiscal-end, said AK Sahoo, executive director & head, bancassurance and alternate channels, LIC. Currently, ...

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