13-Jul-2011
Source : Capitalmarket.com
Life Insurance Corporation of India has won the Readers Digest Trusted Brand Award -2011, Platinum Category, in the Insurance sector for the sixth year in a row.
During the year 2010-11, LIC sold more than 37 million policies, earning a First Year Premium Income of more than Rs 522 billion.
It has covered another 35.66 million lives under its various Group Schemes earning more than Rs 342 billion as Group First Year Premium Income.
Its gross total Income was almost Rs 3 trillion, total Premium Income was more than Rs 2 trillion and the Assets under Management of the Corporation are more than Rs 13 trillion.
It has 53 different individual plans catering to the different segments of the Society. It also provides 13 pension and Group schemes. As on March, 31, 2011, LIC had a market share of 76.92 per cent in terms of new policies issued and 68.70 per cent in terms of the total First Premium Income earned during the year.
LIC has provided more than 280 million individual policies and 83 million group policy holders, a release said.
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