LIC is hopeful to achieve its fiscal target of selling over 25 million individual policies along with a premium collection of above Rs 55,000 crore before March 31, 2020, while marking 17% growth
LIC has said, “We have created a new record by selling 2,17,00,000 individual policies and a premium collection of 50,500 crores as on March 21, 2020.”
LIC has sold 2,14,03,905 individual policies in the previous fiscal. A premium of Rs 1.15 trillion has been collected in the group insurance policies.
The new business performance of LIC revealed growth of 12.8 in its first-year premium income and 21.84% in several policies, as per the end-February report.
