INSURANCE
Prolonged West Asia crisis likely to weigh on insurance sector growth: LIC CEO
May-28-2026

Life insurance corporation (LIC) CEO and MD R Doraiswamy has said that the insurance sector may witness some moderation if the Middle East crisis persists for a longer period, as it could reduce people's income levels.

He said ‘We are all going through a very tough time as already communicated by our Prime Minister. The country has been showing a good amount of resilience and so far has protected the end consumer from the complete impact of the West Asia crisis’.

But he said in case the crisis continues for a longer time, it will certainly have a cascading impact on individuals, affecting both their spending and saving patterns. He said ‘We hope the crisis is resolved at the earliest so that the situation returns to normalcy as quickly as possible. That is what we are looking forward to.’

He further said if the broader segment of economy is impacted, the insurance industry cannot remain isolated. He noted if society as a whole gets affected and the income of people and their saving capacity get affected, naturally it may affect the insurance industry.

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