LIC will now Also Sell Health Insurance: Life Insurance Corporation of India (LIC) is now considering entering the health insurance sector.
A senior official of the company said that LIC can buy a stake in a health insurance company by the end of the current financial year.
In a recent conference call after the announcement of LIC’s September quarter results, an LIC official said that work in this direction is going on at a fast pace and after getting regulatory approval, the company will have a standalone health insurance company. (Standalone Health Insurance Company) Will have a stake in.
11.5 percent increase in net premium income
However, he has not yet revealed the name of the company in which LIC is going to invest. Earlier, while releasing the June quarter results, Mohanty had indicated that this government-owned company can make acquisitions in the health insurance sector in the financial year 2025.
Along with this, while commenting on the new rules of Surrender Value which came into effect from October 1, he said that LIC has redesigned its insurance products as per the new rules and it is fully following the rules. .
LIC’s profit declined by 3.75 percent to Rs 7,729 crore in the September quarter from Rs 8,030.28 crore in the same period last year.
At the same time, the Gross Non-Performing Assets of the company was 1.72 percent, which was 1.95 percent in the previous quarter. LIC’s net premium income during the quarter stood at Rs 1.52 lakh crore, which was Rs 1.2 lakh crore in the same period last year. With this increase, LIC’s net premium income has increased by 11.5 percent.
