New Delhi, Mar 16 (PTI) State-owned Life Insurance Corp has reversed the trend of losing its market share by registering a hefty growth in the current fiscal, Parliament was informed today."In the current fiscal year, up to February 28, 2010, the LIC has increased its market share in terms of first year premium to 65.06 per cent and in terms of policies to 70.79 per cent," Finance Minister Pranab Mukherjee informed Rajya Sabha in a reply.The life insurance behemoth had 61.12 per cent market share in terms of first year premium income and 70.52 per cent in terms of insurance policies in 2008-09, he said.LIC had been losing its market share since the life insurance market was opened up to the private sector in 2000- 01. As on date, there are 22 private insurance companies against one public sector life insurer LIC.
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