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LIC Posts Net Earnings Of Rs 1,437 Crore In April-Sept Duration

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LIC has reported a healthy earnings in the very first half of existing fiscalMumbai: IPO-bound Life Insurance Corporation of India (LIC) on Tuesday reported a revenue after tax of Rs 1,437 crore for the first half of the fiscal year 2021-22 as compared with Rs 6.14 crore in the year-ago period.Its brand-new business premium growth rate stood at 554.1 per cent in very first half of the current financial year, compared with 394.76 percent throughout the corresponding duration of the preceding financial year, LIC stated on Tuesday.Its general total net premiums increased Rs 1,679 crore to Rs 1.86 lakh crore throughout April-September 2021, from Rs 1.84 lakh crore in the year-ago period.The state-owned insurer reported a jump of Rs 17,404 crore in overall premiums and earnings from investments grew to Rs 3.35 lakh crore in the April-September 2021 period.The overall income from investments grew Rs 15,726 crore to Rs 1.49 lakh crore in first half of 2021-22, the insurance company said.Income from interest, dividends and rent (gross) grew to Rs 10,178 crore in very first half of the current financial.

Income from revenue on sale/redemption of financial investments increased to Rs 10,965 crore.LIC's share capital has actually been increased to Rs 6,325 crore in very first half of present fiscal year on the eve of its IPO.In the reporting period, the life insurance company reported an increase of Rs 7,262 crore in the total premium to Rs 1.13 lakh crore for private life (non-linked).

The total premium in specific pension (non-linked) grew Rs 4,432 crore to Rs 5,636 crore; which of the group (non-linked) grew Rs 90 crore to Rs 66,295 crore, it said.The overall premium in specific life (connected) increased Rs 737.08 crore to Rs 1,085 crore.The insurer's net retention ratio stood at 99.88 percent in first half of 2021-22.

Investments of insurance policy holders have grown Rs 5.9 lakh crore to Rs 37.72 lakh crore in the first half of existing fiscal year.

Investments of investors grew Rs 56.17 crore to Rs 6,311 crore, it said.(This story has not been edited by TheIndianSubcontinent personnel and is auto-generated from a syndicated feed.)




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