LIC IPO in offing, but insurer logs massive drop in individual annual premium equivalent
LIC IPO: Life Insurance Corporation (LIC) initial public offer (IPO) is in offing. Ahead of that some data has been unveiled. A massive 45 per cent plunge in LIC's individual annual premium equivalent (APE) in January capped the industry growth at 8 per cent for the month, according to a report.
Industry leader LIC saw its individual APE growth plummet to 45 per cent, due to a massively high base of 99 per cent growth in January 2020. Source: PTI