SBI Life saw its share of Ulips rise by 12 percentage points to 60% of total policies sold during the year. "The insurance sector's net investment in equities was Rs 39,536 crore last fiscal, compared with net sales of Rs 1,726 crore a year earlier, data from the Life Insurance Council shows. Large commissions for distributors had led to a regulatory clampdown on fees.Large companies sold more Ulips as investor sentiment turned positive on equities. "It is a reflection of people moving away from physical assets to financial assets," said Shyamsundar Bhatt chief investment officer at Exide Life. MUMBAI: Even if overseas investors have become wary of emerging markets due to global uncertainty, Indian stocks should find strong support from insurance companies, adding to a rally that has taken the benchmark Sensex to year highs.

Source: Economic Times July 03, 2016 22:15 UTC