LIC Housing Finance logs 12 pc net profit jump at Rs 1,329 crore in Q2
LIC Housing Finance Ltd on Monday reported 12 per cent increase in net profit at Rs 1,329 crore in Q2 FY25, from Rs 1,188 crore in the same period last year.
The Life Insurance Corporation of India (LIC) celebrated its 67th anniversary on Thursday.
On the occasion, the LIC has floated a special revival campaign for lapsed policies with effect from September 1, 2023 for its valued policyholders.
“Beginning with an initial capital of Rs 5 crore in 1956, the LIC as on March 31, 2023 has Assets Under Management (AUM) of Rs 43,97,205 crore,” the corporation said in a statement.
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The First-Year Premium income for 2022-23 was Rs 2,31,899.17 crore and the LIC sold 204.65 lakhs new policies during the financial year. Its market share in policies was 71.76 per cent while in terms of First-Year Premium Income it was 62.58 per cent.
This exceptional performance underlines the trust and confidence reposed by policyholders in the company’s offerings, it said.
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