LIC posts 12.43% growth in total premium income in Apr-Dec

State-run Life Insurance Corporation of India on Monday said its total premium income grew by 12.43 percent to Rs 1,45,031 crore during the April-December period of the current fiscal as compared to Rs 1,29,001 crore in the same period last year.

Total assets during the period under review stood at Rs 24,41,946 crore, up by 12.81 percent from Rs 21,64,652 crore in the last financial year.

The Corporation's gross total income grew 15.76 percent to Rs 3,37,465 crore as against Rs 2,91,511 crore last year. The new business performance for nine months ended December 2016 saw an increase of 40.11 percent in first year premium.

"The Corporation has recorded healthy results based on its strong fundamentals and core values. Trusted customers across the country have supported and enabled us to report a robust financial performance. We endeavour to drive both customer satisfaction and profitability and focus on technology," said the insurer's Chairman V.K. Sharma.

For the period ending December 2016, the total policy payments amounted to Rs 1,12,194 crore as against Rs 94,576 crore, showing an increase of 18.63 percent.

In the current financial year, the Corporation has added more than 44,000 agents to the rolls.

--IANS

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