Hemant Bhargava today took over as a managing director of Life Insurance Corporation, to fill the vacancy created by the retirement of Sushobhan Sarkar in 2014.
On LIC's market share, which declined to 69.21 percent in FY15 from over 75 percent in the previous year, Usha Sangwan said, "Due to the withdrawal of some of the old products, we encountered some challenges, which led to a decline in our market share in 2014-15."
Although banking sector is LIC's all time favourite investment destination, the company would not shy away from investing in pharma, real estate and infrastructure companies.
Industry movements of the fortnight: LIC & HUL