Chennai :
LIC’s total premium income for the nine months ended last December is Rs 3 lakh 42 thousand 244 crore. This was Rs.2 lakh 83 thousand 673 crore in the same period of last financial year. Compared to last year 2021, the premium income is 20.65 percent higher.
Similarly in the 9th month, profit after tax was Rs.22 thousand 970 crores. It was Rs 1,672 crore at the same time last year.
The increase in profit during the current period was due to the transfer of Rs.19,941.60 crore (net of taxes) from ‘Nan Baer’ account to investors account. LIC’s business continues to be strong. As a result, LIC’s overall market share in terms of first year premium revenue for 9 months is 65.38 percent. It was 61.40 percent during the same period last year.
Similarly, 1.29 crore individual policies have been sold in the individual category in 9 months. 1.26 crore in the same period last year. This is an increase of 1.92 percent. LIC The 3rd quarter results showed good improvement in all its performance indicators such as customer loyalty, market value of assets, new business profit margin.
In this regard, MR Kumar, Chairman of LIC said, “We are making steady progress towards achieving the target. We strongly believe that we will not only maintain our market share in the growing insurance market but also increase it and move forward.”
The above information is from LIC. It is said in a press release issued by the company.