India's Private life insurers
are dominant players in the unit-linked insurance plans (ULIPs) market.
Data released by
ratings agency ICRA shows that for private insurers, the share of ULIPs in
their as AUM (Asset under Management) was 67 % against 7.8 % for Life Insurance Corporation of India
(LIC of India), at the end of March 2013.
Data from ICRA shows
that LIC of India has a portfolio of Rs 1.1 lakh crore of ULIPs in its total
AUM of Rs. 14 lakh crore.
Mr. Karthik
Srinivasan, Senior Vice-President & Co- Head Financial Sector Ratings, ICRA said, “It is a better product
compared to the past few years due to changes in product guidelines wherein
surrender charges and commissions have been lowered,“
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