New Delhi, Nov. 7 -- Life Insurance Corp. (LIC) of India is hopeful of making up for the hit from the recent GST rationalization by managing its expenses and selling more policies, instead of increasing premiums or cutting commissions.

"We hope that the exemption of life insurance business from GST is going to result in a substantial increase in the business volumes and the topline growth as well as our continuous effort to optimize our expenses. We will be able to take care of the pressure on the margins and continue to be focusing on the margin growth as well as the profitability," managing director and chief executive officer R. Doraiswamy said at a media call to announce LIC's September quarter results.

While the insurer hopes to re...