Yesterday's ET issue carries a report of Swiss Re forecasting a record $100 billion in India in 2022.
This indicates that Life Insurance industry is on a robust path of growth on international comparison. LIC having the highest market share with its financial strength will lead the growth in the long run.This is a point that we should inform to our Senior Counsel to counter any financial strain to LIC on account of upgradation if raised by LIC.The management expenses can also be expected to be controlled well with new strategic initiatives launched by LIC, post IPO. The further strong point in our favour is that there is no addition to the number of beneficiaries of our Pension Scheme and the group of LIC pensioners is only a decreasing constituency!
C H Mahadevan
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