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State-owned insurance behemoth Life Insurance Corporation (LIC) of India clocked 12.42 per cent growth in 2019-20 (FY20) in total premium income at Rs 3.79 trillion, compared to Rs 3.37 trillion in 2018-19 (FY19). The insurer’s new business premium (NBP) was up 25.17 per cent in FY20 to Rs 1.77 trillion.
However, in the first quarter (Q1) of 2020-21 (FY21), LIC’s NBP contracted 18.45 per cent to Rs 36,530 crore, against Rs 44,794 crore in the corresponding quarter a year ago.
In the pension and superannuation business, it earned NBP to the tune of Rs 1.29 trillion in FY20, compared to
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