Life Insurance Corporation Of India Posted robust growth of 12.43% in the Total Premium Income

Life Insurance Corporation Of India Posted robust growth of 12.43% in the Total Premium Income

Mumbai: February 27,2017

Life Insurance Corporation of India’s total gross income of nine months ending December 2016 grew by 15.76% to 337465 cr. against Rs.291511 cr. last year. The new business performance of the corporation saw an impressive increase of 40.11% in first premium while the corporation posted robust growth of 12.43% in the total premium income at Rs145031cr compared to Rs1, 29,001 cr. during the previous year.

The total assets also showed a phenomenal growth to Rs2441946 cr. as opposed to Rs2164652 cr. the previous year which is an increase of 12.81%.  The Corporation has added more than 44000 agents to the rolls.

Addressing the gathering, Mr. V.K. Sharma, Chairman, LIC of India stated that, on the occasion of Dimond Jubilee, LIC launched a special plan, ‘Bima Diamond’ Corporation. Corporation sold over 5,86, 000 policies under the plan collecting over 322cr. premium. He further said that, corporation has recorded healthy results based on its strong fundamentals and core values. Trusted customers across the country have supported and enabled LICto report a robust financial performance.

About LIC

Life India Corporation has eight zonal offices, 113 divisional offices and 2048 branch offices all over the nation The headquarter is in Mumbai,  Maharashtra; while 1403 satellite offices and 1238 mini offices serve the nation.

The corporation which was started with an initial capital of rs.5 cr. subsequently raised to Rs.100 cr. has built a formidable institution with assets worth over 24 Lac cr. Today, LIC has servicing about 29 crore policies.

PIB/ SA (BG)

Source:PIBMUMBAI