LIC ranked first among strongest Insurance Brands 2024 in the world
The LIC is grateful to all its policyholders and stakeholders who have reposed their faith in LIC for almost seven decades, the LIC said in a statement.
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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