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The Life Insurance Corporation (LIC) has posted a 27.22 percent growth in first year premium (FYP) in FY17.
It has said in a statement that total FYP increased to Rs 1,24,396.27 crore in FY17 from Rs 97,777.47 crore in the previous year. It resulted in the insurance giant increasing its market share to 71.07 percent from the last year’s 70.61 percent.
The market share of LIC in terms of number of policies stood at 76.09 percent which is up from 74.72 percent of last year. It has sold over 20 million new policies in FY17.
