NEW DELHI: Finance minister Yashwant Sinha assured the members in the Lok Sabha on Wednesday that the entry of private players in the insurance sector would in no way hurt the interests of the LIC. Responding to concerns expressed during a discussion over the Insurance (amendment) Bill, he said that despite the presence of the private participants in an opened-up insurance sector, the LIC had maintained an impressive growth and expansion rate.
‘‘We do not want to introduce more players to share the limited pie, rather more the players greater the expansion of market,’’ the FM said. Earlier, the opposition members claimed that the growth of the insurance companies in the public sector would be hindered by the entry of private players.
‘‘We do not want to introduce more players to share the limited pie, rather more the players greater the expansion of market,’’ the FM said. Earlier, the opposition members claimed that the growth of the insurance companies in the public sector would be hindered by the entry of private players.