NEWS

LIC’s April Premium Hits Decade High Of Rs 12,384 Crore; Details

LIC:  State-owned Life Insurance Corporation of India (LIC) on Friday said its premium collection in April was Rs 12,384 crore, the highest for the month since 2014. Quoting Life Insurance Council’s latest figures, the insurance behemoth said the total premium collected by LIC in April 2024 was Rs 12,383.64 crore — 113.14 percent higher than the Rs 5,810.10 crore premium collected the same month a year ago.

Read More: AI Express cancels 75 flights on Friday, expects normal ops by Sunday: Official

The achievement can be attributed to LIC’s implementation of innovative marketing strategies and its strong reputation for reliability and customer-centric services, the insurer said in a statement. These factors effectively reached a wider audience, resulting in increased policy uptake and premium collections, contributing significantly to LIC’s success in posting its highest premium in 12 years, it said.

Read More: RBI Appoints R Lakshmi Kanth Rao as Executive Director

Under the individual premium category, LIC collected a total premium of Rs 3,175.47 crore in April 2024 — an increase of 25.17 percent from Rs 2,537.02 crore in the same month a year ago.

The group premium grew 182.16 percent to Rs 9,141.34 crore during the month from Rs 3,239.72 crore in April 2023.

Read More: Weather Update: Rainy weekend for Delhi; IMD predicts rainfall, thunderstorm in THESE states – Check complete forecast here

However, this growth was spurred by an increase of 100.33 percent in the group yearly premium category, which rose to Rs 66.83 crore in April 2024 from Rs 33.36 crore in April 2023. 

Disclaimer: This story has been directly published from the agency feed. No changes have been made except headline

Source :
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

To Top