LIC to step up income from non-single premium in FY18

Income saw 8% growth at Rs 13,646 cr in Apr-Dec 2016 as against Rs 12,617 cr a year ago

Life Insurance Corporation of India (LIC), the country’s largest life insurer, will step up sale of non-single premium policies to about 25 per cent in 2017-18 to bring balance in its business growth profile. LIC Chairman V K Sharma said the state-owned insurer has already met its FY17 target for new business premiums and was concentrating on efforts to grow income from non-single premiums for this financial year.
 
The thrust would be maintained in 2017-18 and he expects growth for the non-single premiums stream (individual as well as the group segments) of over 25 per cent, Sharma said on