PSU NEWS
LIC's highest collection ever-new business premium of Rs 1.84 lakh crore
LIC has seen the highest record of collecting Rs 1.84 lakh crore from new business premium.
New Delhi: India's largest government-owned insurance and investment corporation, LIC has seen the highest record of collecting Rs 1.84 lakh crore from new business premium.
However, in the pandemic, LIC not only balanced the situation but also record the highest business premium record ever. LIC also paid out claims of Rs 1.34 lakh crore to policyholders.
“On the Claims front, in spite of severe constraints due to Covid Pandemic, LIC settled 2.19 Crore Maturity claims, Money-Back Claims and Annuities, amounting to Rs 1.17 lakh crore,” the insurer said in a press release. “The Corporation settled 9.59 lakh death claims amounting to Rs 18,137.34 crores,” according to ET.
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