A look at how Life Insurance Corporation has managed to retain its vice-like grip

A look at how Life Insurance Corporation has managed to retain its vice-like grip

India’s life insurance market is crowded and fiercely competitive with 24 players jostling for a share of the expanding market. And 19 years after the entry of private players, state-owned Life Insurance Corporation (LIC), which had enjoyed a total monopoly for 44 years, remains the dominant player albeit with a reduced market share of two thirds and the remaining 23 players sharing the remaining one-third of the pie.

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