Web revenue elevated led by a 12% in earnings from investments together with revenue from the sale of investments, curiosity, dividends and hire throughout the six months ended September 2021. Whole earnings from investments elevated to Rs 1.49 lakh crore from Rs 1.33 lakh crore a yr in the past.
The rise in earnings from investments masked a tepid 1% development in web premiums after contemplating reinsurance. Web premiums elevated to Rs 1.86 lakh crore from Rs 1.84 lakh crore a yr earlier. The rise in revenue was additionally regardless of a 8% yr on yr rise in advantages and bonuses paid which elevated to Rs 3.08 lakh crore from 2.86 lakh crore a yr earlier.
The outcomes from the federal government owned insurance coverage behemoth are important as a result of it’s on the cusp of submitting its draft crimson herring prospectus (DRHP) for a doable itemizing earlier than the tip of March 2022. The federal government, the only proprietor of LIC, expects to garner greater than ₹1 lakh crore from the share sale in India’s largest insurance coverage firm, greater than 5 occasions the ₹18,300 crore raised by monetary companies agency
‘s dad or mum One97 Communications a few months in the past, which was the most important IPO in India up to now.
“The overall premium in particular person pension (non-linked) grew by Rs. 4,432 crore to Rs. 5,636 crore; and that of Group (non-linked) grew by Rs. 90 crore to Rs. 66,295 crore.
In H1FY22, the full premium in particular person life (linked) grew by Rs. 737.08 crore to Rs. 1,085 crore,” LIC stated in a press launch.
Investments of policyholders have grown by Rs. 5.9 lakh crore to Rs. 37.72 lakh crore within the first half of the present fiscal yr. The corporate’s solvency ratio was 183.37% increased than the 150% required by laws.