Life Insurance Corporation of India (LIC), the country’s largest life insurer, will step up sale of non-single premium policies to about 25 per cent in 2017-18 to bring balance in its business growth profile. LIC Chairman V K Sharma said the state-owned insurer has already met its FY17 target for new business premiums and was concentrating on efforts to grow income from non-single premiums for this financial year.
The thrust would be maintained in 2017-18 and he expects growth for the non-single premiums stream (individual as well as the group segments) of over 25 per cent, Sharma said on the sidelines of an insurance summit organised by the Federation of Indian Chambers of Commerce and Industry (Ficci).
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