Life Insurance Corporation (LIC) shows good figures in Policies

GUWAHATI: In these difficult times of business distress caused by COVID-19, Life Insurance Corporation of India continues to better its performance. In the just concluded financial year of 2019-20, LIC has achieved its highest number of policies for the last six years. Individual new business performance of the corporation as at March 2020 has shown impressive figures of 2.19 crore in number of policies and Rs 51,227 crore in first year premium income, sttaed a press release. While ensuring growth in number and premium, the corporation has achieved a healthy business mix. It collected single premium of Rs 21,967 crore and non single premium of Rs 29,260 crore – the ratio being 42:88 for single premium and 57:12 for non- single premium.

Overall, LIC has achieved an impressive growth rate of 25.17 per cent in first year new business premium as compared to private players who have collectively achieved a premium growth rate of 1164 per cent.

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