LIC's group premium doubles, total premium surges by 67% in February 2024
However, individual premium collected in the first 11 months of FY24 grew just 0.55% YoY
Source: businesstoday.in
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LIC records 50% drop in new business premium after tweak in tax rules
In the Union Budget 2023-24, Finance Minister Nirmala Sitharaman had proposed to tax insurance premiums over Rs 5 lakh from 2023-24. Analysts say that it has materially reduced the return attractiveness of such products which were earlier tax free
Source: moneycontrol.com