The life insurance sector reported a growth of 8.7% in annualised premium equivalent (APE) for December, with the private players turning in a good show with a rise of 11.4% in retail policies. State-owned Life Insurance Corporation, however, posted a growth of just 2.1%. The number of individual policies sold by LIC fell by 9.1% year on year in December, indicating that the growth in the retail APE was driven by an increase in the ticket size of policies.
India's wealthy opt for term insurance policies worth Rs 5-20 crore: Report
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