LIC records bumber premium of Rs 1,84,000 crores
Life Insurance Corporation of India (LIC) collected new premiums of Rs 1.84 lakh crore in FY21 as per its data released to press.
LIC had a 3.5 percent growth over the previous fiscal. This is despite the Coronavirus outbreak where there was a nationwide lockdown imposed during Q1FY21. The life insurance industry as a whole collected Rs 2.78 lakh crore of new premiums, showing a 7.5 percent YoY growth in FY21. Here, private life insurers collected new premiums of Rs 94,103 crore, showing YoY growth of 16.3 percent.