ULIP Growth in India decelerates

Indian insurance companies clocked slower growth in ULIP - Unit Linked Insurance Policies in 2007-2008. An article in Hindu by Radhika Menon shows that the contribution of unit linked plans has fallen in terms of premium as well as policies for LIC and ICICI prudential. LIC's growth fell from 118 percent to 5.8 percent while ICICI prudential's growth fell from 99 to 58 percent.

Overall the private sector life insurance industry grew at 74 percent lower than the earlier years 90 percent. As the bulk of the policies sold by private life insurers is unit linked, the downward movement in the stock market has meant a dip in sales per the article.