Mini Ipe has been  kept as the candidate on the reserve list for the said vacancy.

The BBB interfaced with five candidates from Life Insurance Corporation of India on October 28, 2020 for forthcoming vacancy of MD of LIC . 

“On the back of risk averse behaviour of customers, we saw considerable interest for traditional long-term savings products which grew 45 per cent year-on-year for the quarter. Annuity products too registered a robust growth of 73 per cent year-on-year for the quarter. The unit-linked business has shown a strong sequential improvement with Q2-FY2021 nearly doubling over Q1-FY2021,” MD & CEO N S Kannan said.

“Based on the evaluation, the company has kept additional reserve amounting to Rs 64.76 crore resulting from COVID-19 pandemic over and above the policy level liabilities. The company will continue to closely monitor any future developments relating to COVID-19 which may have any impact on its business and financial position,” it added.

“While we remain sensitive about the health impact and loss of lives due to the pandemic and continue to focus on employee, customer and partner safety norms, opening up of the economy has led to a pickup in activity levels on the ground.This has also resulted in a marginal uplift in household income and spends. Insurance as a category has emerged stronger as a vehicle to protect one’s family and realise their long term financial goals,”Vibha Padalkar,managing director and CEO said.

“The amount of business that will happen through the protection portfolio will increase by leaps and bounds, and on the savings side people will prefer opting for guaranteed return based products because the minute the guarantee return is not there then you are dependent on the whims and fancies of the market and today because of the uncertainty very-very few people are open to bet on the market,”IndiaFirst Life deputy CEO Rushabh Gandhii said.