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  • News From Press LIC drags down life insurers' new business by 42% in Oct

    LIC drags down life insurers' new business by 42% in Oct

    Source: ET Nov 12, 2024

    The life insurance industry reported a 42% plunge in individual new policies sold in October, mainly due to a 59.8% drop in Life Insurance Corp's policy count, while the private sector saw a modest 1.1% decline.


    This decline comes in the first month under new surrender value regulations effective October 1, with the updated rules creating product gaps and earlier sales push and festivals impacting demand.

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