LIC’s market share of new biz premium up to 79.2%

Life Insurance Corporation has increased its market share of new business premium to 79.2% in August 2010. Against this, all the 22 private insurance companies put together could muster only 20.79%. The increase in market share was fallout of heavy sales of its pension plan Market Plus ahead of the scheme’s withdrawal in September. In terms of customers, LIC is the largest insurer with over 28 crore unique customers. crackcrack