LIC Posts Rs 1437 Crore Net Profit in April-September 2021

Life Insurance Corporation of India (LIC) on Tuesday reported Rs 1,437 crore net profit for the first half of the current financial year as against a mere Rs 6.14 crore recorded in the corresponding period of previous year.

The government-run insurer said its overall income from investments increased to Rs 1.49 lakh crore in April-September 2021 period, which is Rs 15,726 crore higher when compared with the corresponding period of previous year.

The Corporation's income from interest, dividends and rent (gross) increased to Rs 10,178 crore during the reporting period.

IPO-bound Life Insurance Corporation of India said it received total net premiums of Rs 1.86 lakh crore during the first half of 2021-22 as against Rs 1.84 lakh crore recorded in the corresponding period of 2020-21.

LIC's total premium for individual life (non-linked) increased to Rs 1.13 lakh crore in the first half of the current financial year, which is Rs 7,262 crore more when compared with the corresponding period of last fiscal.

The total premium in individual life (linked) increased Rs 737.08 crore to Rs 1,085 crore during the period under review.