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Life Insurance Corporation of India (LIC) says last quarter s earnings of INR9,543 crores ($1.3bn) was sustainable and profit was likely to increase in the coming quarters. LIC has undergone a directional change, with its product mix now dominated by participating non-par products which yield better margins. The insurance company seeks to increase the share of non-par policies to double digits, from 10.22% at present. ....
LIC’s consolidated net profit rose sharply to Rs 8,334 crore in the third quarter as against Rs 235 crore in the same period a year ago as premium income improved and it moved Rs 5,670 crore to its shareholders' fund to shore up its net worth. ....
The LIC listed on the stock exchanges at a discount of over 8 per cent at Rs 867 on Monday, as against its issue price of Rs 949. On Tuesday, it recovered losses after the market opened its trade at Rs. 883.95 or 8.70 (0.99%) up from the previous day s close. ....