LIC says This autumn numbers not comparable with final yr interval, embedded worth quickly

The numbers for the fourth quarter weren’t comparable with final yr interval, Life Insurance coverage Corp. managing director stated Tuesday as the corporate began compiling quarterly numbers from September 2021 quarter.

LIC MD Raj Kumar, in a submit earnings press convention, stated the worth of recent enterprise (VNB) and the dedication of embedded worth is underneath progress and shall be out there quickly.

On the decrease dividend, the corporate stated, because the enterprise grows it’ll want extra capital which can ultimately profit the shareholders as income improve.

LIC reported a revenue of 2,372 crore ($306 million) for the March quarter, down from 2,893 crore a yr earlier. India’s largest insurer and largest home monetary investor additionally introduced a dividend of Rs 1.50 per share.

LIC’s internet premium earnings rose 18% to 1.44 lakh crore from 1.22 lakh crore a yr earlier.

Its solvency ratio, a measure of an insurer’s capacity 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%.

Additional LIC maintained an company energy at 1.33 million, a big share of whom are working within the rural areas of the nation, thereby giving it a pan India presence throughout the varied socio financial segments.

LIC made its debut on the inventory exchanges earlier this month.

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