LIC's market share falls below 70% in FY18
The market share of state-owned Life Insurance Corporation (LIC) fell below 70% in the financial year ended March 2018. On the basis of total premium income, LIC's market share decreased from 71.81% in 2016-17 to 69.36% in 2017-18, as per an IRDAI report. The market share of private insurers increased to 30.64% in 2017-18 from 28.19% in the previous year. 