New Delhi, 7 February (IANS). Life Insurance Corporation of India (LIC) on Friday presented the results of the third quarter of FY 25. The company’s consolidated profit in the October-December quarter was Rs 11,008 crore, which was Rs 9,468.99 crore in the same quarter last year.
The company said in the stock exchange filing that the company had a profit of Rs 29,138 crore after tax in the first nine months of the current financial year, which was at Rs 26,913 crore in the same period of the previous financial year. This reflects an increase of 8.27 percent on an annual basis.
In the first nine months of the current financial year, the company has collected a total premium of Rs 3,40,563 crore. It has increased by 5.51 percent on an annual basis. The company’s asset under management (AUM) has increased by 10.29 percent to Rs 54,77,651 crore on an annual basis.
In the first nine months of the current financial year, LIC’s new business premium income (individual) has increased by 9.73 percent to Rs 42,441 crore on an annual basis.
Siddharth Mohanty, CEO and MD of LIC, said, “Our focus and strategy in a dynamic environment remains constantly towards changing its product and channel mixture to meet the needs of its customers.”
He further said that in the first nine months of the current financial year, the Value of New Business (VNB) margin has improved to 17.1 percent, which was 16.6 percent in the same period last year. During this period, the Value of New Business has been Rs 6,477 crore, which was Rs 5,938 crore in the same period last year.
Mohanty further said that so far more than 1.25 lakh women have been registered under the insurance Sakhi scheme and more than 70,000 have been appointed as insurance friends.
-IANS
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