The share of Unit-Linked Insurance Plans (ULIPs) is likely to rise, in lockstep with the surge in stock indices, slowing the growth in Value of New Business (VNB) margins.
India Business News: LIC had a claim settlement ratio of 98.5% as of March 31, 2023, according to data released by the Insurance Regulatory and Development Authority in it
According to regulatory data, while the state-run insurance giant saw a bare 0.24% growth in new business premium to ₹1.56 trillion in the 11 months of FY22, private life insurers clocked a 24.7% rise to ₹98,213 crore in the same period