Double-digit growth projections for India’s life insurance industry are twice the global average of 5.5%, thanks to increased penetration, regulatory changes, and growing awareness, says GlobalData
IRDAI has also reduced the solvency margin requirement for insurance companies offering crop insurance to increase the capacity of general insurers to underwrite more business.
On Monday, LIC shares declined 4.5% to hit their lowest level of ₹676.05, driven by sustained selling as the lock-in period for anchor investors ends today.
LIC shares have wiped out ₹1.4 lakh crore of investors’ wealth as market-cap dropped to ₹4.57 lakh crore as compared to around ₹6 lakh crore at the time of listing.
LIC is likely to launch its IPO in March this year and it is expected to file its draft red herring prospectus (DRHP) with the market regulator by next week.