That Life Insurance Corporation of (LIC) India is losing market share to private insurers hand over fist over the last several years is well known. But the battle within the private sector life insurance pie is getting interesting with smaller players gaining heft. The latest monthly business data from the insurance regulator shows that smaller insurance players such as India First Life Insurance, Canara HSBC Life Insurance and Tata AIA Life Insurance have grown exponentially in the month of May. That said, the top three insurers—SBI Life Insurance Co, HDFC Standard Life and ICICI Prudential Life Insurance still hold a lion’s share of the private sector life insurance market. Even SBI Life Insurance Co saw its retail APE growth surge to 37%.

Source: Mint June 13, 2019 09:00 UTC