LIC Q4 standalone PAT declines 18%, firm declares dividend of Rs 1.5

LIC's net premium income rose 18% to Rs 1.44 trillion in Q4FY22

India's largest insurer Life Insurance Corporation of India on Monday reported 18% decline in standalone net profit at Rs 2,372 crore for the quarter ending March 31, 2022. It reported consolidated net profit of Rs 2,893 crore in Q4FY21.

Its consolidated net premium income rose 18% to Rs 1.44 trillion for Q4FY22 as against Rs 1.22 trillion in the year-ago period.

The Board of Directors of LIC recommended dividend of Rs 1.50 per equity share with face value of Rs 10 each for the year ended March 31, 2022.

On Monday, the company's scrip on BSE closed 1.8% higher at Rs 836.50. LIC made its debut on the stock exchanges earlier this month. The company’s income from investments came in at Rs 67,855.59 crore, almost flat compared to 67,684.27 crore in the year-ago quarter.

Its solvency ratio, a measure of an insurer's ability to meet its long-term debt obligations, rose to 1.85 from 1.76 a year earlier.

Its 13-month persistency ratio reflecting the number of policies being renewed fell to 69.24% from 73.24%.