LIC's entry into health insurance market intensifies competition, may lead to consolidation, as industry players anticipate changes in premiums and market dynamics.
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State-run general insurers in India now account for less than a third of the industry premium, as larger private non-life insurers have strengthened their position in the market. Public sector insurers saw their premium income decrease by 1% to Rs 34,203 crore during the first five months of the fiscal year.