By NNN-PTI,
New Delhi : Life insurance companies have appointed around 13 lakh agents during 2008-09 despite the sector going through a tough phase following the impact of the global financial crisis. (One Lakh:100,000)
The number of life insurance agents increased to 29.37 lakh by the end of March 2009, according to Insurance Regulatory and Development Authority (IRDA) annual report 2008-09.
In 2007-08, life insurance companies added 10 lakh insurance agents.
More than one-fourth of the insurance agents were recruited by the country’s largest insurer Life Insurance Corporation in the last fiscal. It recruited 3.45 lakh agents in 2008-09 compared with 2.34 lakh in 2007-08.
On the other hand, private insurers added 9.43 lakh agents in the last fiscal against 7.72 lakh a year ago.
Among the private insurers, the biggest recruiter was ICICI Prudential. The insurance company hired 1.88 lakh agents in the last fiscal.