The Minister of State for Finance and Corporate Affairs Anurag Thakur said that LIC India has recruited over 1.14 lakh new agents last fiscal.
In a written reply to a question at Loksabha, he said, “During the current financial year upto 31.12.2019, LIC has recruited 1,14,114 agents and 4,374 Development Officers. This recruitment drive coupled with innovative marketing strategies undertaken by the Corporation and a growth rate of 17.81% of policies sold till March 31, 2019 is expected to enable LIC to cross three crore policies during current financial year.”
He further said that the strong agency force of LIC has helped LIC to maintain its market share of 70.52% in first year premium and 75.64% share in terms of policies as on March 31, 2019 making it a dominant player.