MUMBAI: Life Insurance coverage Company of India (LIC) reported a revenue of Rs 2,372 crore ($306 million) for the March quarter, down from Rs 2,893 crore a yr earlier.
India’s greatest insurer and largest home monetary investor additionally introduced a dividend of Rs 1.50 per share with a face worth of Rs 10 every, it stated in a regulatory submitting on Monday.
LIC’s web premium revenue rose to Rs 1.44 lakh crore from Rs 1.22 lakh crore a yr earlier.
Its solvency ratio, a measure of an insurer’s means to fulfill its long-term debt obligations, rose to 1.85 from 1.76 a yr earlier.
Its 13-month persistency ratio reflecting the variety of insurance policies being renewed fell to 69.24% from 73.24%.
LIC made its debut on the inventory exchanges earlier this month. As of Monday’s shut, the inventory was down 11.7% from their provide value of Rs 949 per share.
The federal government bought a 3.5% stake and raised roughly Rs 20,500 crore from India’s largest IPO.