Now women will also lead expansion of sectors like insurance: PM Modi
On the occasion, he also laid the foundation stone of the Main campus of Maharana Pratap Horticultural University, Karnal.
The Life Insurance Corporation of India (LIC) celebrated its 67th anniversary on Thursday.
The LIC has floated a Special Revival Campaign for lapsed policies with effect from September 1, 2023 for its valued policyholders.
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“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 LIC 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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