LIC, the country’s largest life insurance company, continues to perform well. Despite the business environment being very challenging due to the Corona epidemic over the last full year, the company has performed well. It has been stated in a release issued by LIC.
New Delhi, Business Desk. LIC, the country’s largest life insurance company, continues to perform well. Despite the business environment being very challenging due to Corona epidemic over the last full year, the company has done well. A release issued by LIC said that in FY 2020-21, the company earned Rs 56,406 crore from the premium of the new policy under the Individual Assurance business. This is a record. This shows an increase of 10.11 percent over the previous year. LIC’s market share in terms of number of policies stood at 81.04 per cent in March 2021. If we look at the figures for the whole year, it sits around 74.58 percent.
LIC’s pension and group scheme verticals also set a new record in terms of new business premiums. The company earned Rs 1,27,768 crore from the premium of new business in this vertical. The figure stood at Rs 1,26,749 crore in the previous financial year.
