According to the most recent business statistics provided by the Insurance Regulatory and Development Authority of India (Irdai), Life Insurance Corporation of India (LIC) has maintained its position at the top of the market share list at the expense of its smaller competitors.

LIC increased its market share from 65.42% at the end of June to 68.57% until July 2022. The public sector behemoth’s market share has increased from the 65.11% stated a year ago. In July 2022, LIC collected a total premium of 29,117 crore, more than double the 12,031 crore it had acquired the year before.