MUMBAI: LIC grew its enterprise by almost 94% in December 2023, powered by a 194% leap within the group single premium enterprise.
The company’s complete premium rose to Rs 22,981 crore from Rs 11,859 crore a yr in the past, whereas its group single premium rose to Rs 17,601 crore from Rs 5,966 crore in December 2022. Single premium is usually acquired at one go as in opposition to common premium.
LIC’s group enterprise surge in December helped the business document a 43% leap in premium throughout December to Rs 38,583 crore from Rs 26,838 crore in December 2022.
The upper premium revenue from the LIC powered the expansion of the business in December.
The life insurance coverage business has recorded complete premium of Rs 2,50,273 crore from April-December 2023, which is a 7% decline in comparison with Rs 2,69,190 crore in the identical interval for the earlier yr.
The company’s complete premium rose to Rs 22,981 crore from Rs 11,859 crore a yr in the past, whereas its group single premium rose to Rs 17,601 crore from Rs 5,966 crore in December 2022. Single premium is usually acquired at one go as in opposition to common premium.
LIC’s group enterprise surge in December helped the business document a 43% leap in premium throughout December to Rs 38,583 crore from Rs 26,838 crore in December 2022.
The upper premium revenue from the LIC powered the expansion of the business in December.
The life insurance coverage business has recorded complete premium of Rs 2,50,273 crore from April-December 2023, which is a 7% decline in comparison with Rs 2,69,190 crore in the identical interval for the earlier yr.
