LIC profit declines 3.83% in September quarter

The first-year premium income during the 2nd 4th accrued 12 per cent to Rs 11,201 crore, compared with Rs 9,988 crore successful the aforesaid 4th of the erstwhile year.

The corporation’s Indian embedded worth (IEV) arsenic of September 2024 was astatine Rs 821,716 crore arsenic compared to Rs 662,605 crore arsenic of September 2023, registering an summation of 24.01 per cent implicit the erstwhile year.

LIC’s assets nether absorption (AUM) accrued to Rs 55,39,516 crore arsenic of September 2024 arsenic compared to Rs 47,43,389 crore of September 2023, registering an summation of 16.78 per cent twelvemonth connected year.

“Our strategy connected enhancing marketplace stock on with changes successful merchandise and transmission mix, without compromising connected profitability, is yielding precise disposable results. Further we person aligned our products with the caller regulatory guidelines by redesigning them successful specified a mode that the involvement of customers, shareholders and assorted selling transmission partners are taken attraction of,” said Siddhartha Mohanty, CEO & MD, LIC.

“At LIC we are assured that each specified changes which are affable to customers volition yet grow the beingness security marketplace successful the country. We are committed to proceed to play a important relation successful the further improvement of the beingness security marketplace with the enactment of each our stakeholders,” helium said.

“In presumption of marketplace stock measured by archetypal twelvemonth premium income (FYPI), LIC continues to beryllium the marketplace person successful Indian beingness security concern with wide marketplace stock of 61.07 per cent for the fractional twelvemonth ended September 2024 arsenic compared to 58.5 per cent for fractional twelvemonth ended September 2023,” it said.

LIC to see buying wellness insurer

LIC MD and CEO Siddhartha Mohanty connected Friday said the corp volition instrumentality a telephone connected buying a involvement successful a standalone wellness security institution successful the existent fiscal year.

“The crushed enactment is going on… hunt for suitable wellness security institution is going on… we volition finalise involvement wrong this fiscal year,” Mohanty said during a media conference. Asked astir the quantum of involvement LIC volition person successful wellness security company, helium said it would beryllium connected assorted factors, including valuation.