The LIC reported a profit after tax of Rs 1,437 crore for the first half of the financial year, as compared with Rs 6.14 crore in the year-ago period.
The new business premium growth rate was 554.1 per cent in the first half of the current financial year, compared with 394.76 per cent in the same period of the previous year.
Its total net premiums went up by Rs 1,679 cr to Rs 1.86 cr during the April-September period.
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In the April-September 2021 period, the insurer reported a jump in premiums and income from investments.
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In the first half of the fiscal year, the income from investments grew by Rs 15,726 crore.
In the first half of the year, income from interest, dividends and rent grew to Rs 10,178 crore.
Income from profit on sale/redemption of investments has increased.
On the eve of its IPO, LIC's share capital has been increased to Rs 6,325 cr.
In the reporting period, the life insurer reported an increase in the total premium for individual life.
The total premium for the individual pension grew by Rs 4,432crore to Rs 5,636crore, and that of the group grew by Rs 90crore to Rs 66,295crore.
The premium for individual life (linked) increased by more than a billion dollars.
The insurer had a net retention ratio of 99.88 per cent. In the first half of FY22, the investments of the policyholders have grown by over five times.
The investments of shareholders grew by Rs 56.17 crore.
In the first half of FY22, the investments of the policyholders have grown by over five times.
The 13th month persistency ratio (premium basis) stood at 78.18 per cent and the solvency ratio stood at 183.37 per cent in April-September 2021.
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