LIC Chief Warns of Potential Insurance Sector Impact from Prolonged West Asia Crisis
LIC CEO and MD R. Doraiswamy stated that the insurance sector in India may experience moderation if the ongoing West Asia crisis persists, as it could lower individuals' income and affect their spending and saving habits. While the country has shown resilience so far, a prolonged crisis could impact the broader economy and, consequently, the insurance industry. Doraiswamy also noted that LIC is prepared for any further stake dilution by the government, with decisions on timing and extent pending.