Mumbai: Life Insurance Corporation (LIC) from India has said that the asset base has crossed RS 38 Lakh Crore with total investment of RS 36,76,170 Crore and Life Dana RS 34.36,686 Crore on the 2021.
According to the balance sheet for the previous fiscal ending March 2020 , the total corporate assets are only under RS 32 Lakh Crore, total investment at Rs 30.7 lakh Crore and its life funds at RS 31.1 Lakh Crore.
LIC shared the numbers of the neracemy ahead of the foundation day on September 1, which marked the 66th anniversary.
The balance sheet number provides some insight into the IPO-bound corporation value.
However, clear indications will be available only after it reveals its business embedded value.
Expansion in the balance sheet in the Pandemic Year TA21 occurred behind a 3.5% growth in the new business (first year premium) with a collection of Rs 1.8 Lakh Crore Premium from 2.1 New Crore Policy.
Assets also grow with retirement and retirement collect RS 1.3 Lakh Crore as a new business premium.
The corporation also settled 2.3 Crore Claims Lakh for RS.
1.5 lakh crore.
Sales gave LIC 66.2% market share in the first year premium income and 74.6% in the number of policies.
Another landmark achieved during this year is the use of digital channels for payment of almost 75% of the total extension premium.
This is a big leap of FY20 when a premium collection through alternative channels is 61.9% in policy and volume of 54.8% of the total premium collection of extension of LIC.
LIC asset base runs past RS 38 lakh crore in fiscal 2021
