IRDAI annual report: LIC’s claim settlement ratio deteriorated in FY20 to 96.6% LIC saw its claim settlement ratio deteriorate marginally in FY20 to 96.6% from 97.7% in FY19 even as private insurers increased their settlement ratio to 97.18% from 96.6% in this period. Private sector life insurer Max Life had the highest claim settlement ratio for the industry at 99.2% followed by...
