LIFE August 2019
LIC records 6% growth in premium, policy payout up by 27%:
LIC had recorded a 6.08% growth in its total premium income at Rs. 3,37,185.40 crore in 2018-19 against Rs. 3,17,850.99 crore in 2017-18. The financial result for 2018-19 if the company’s suggests that its first year premium increased by 5.68% to Rs. 14,21,91.69 crore.
LIC secures 2nd place among top 10 Indian corporate brands:
An independent brand valuation consultancy, Brand Finance, took 5,000 companies from India and ranked then in accordance to their brand value. And to no one’s surprise, the LIC has secured its place in the second position after Tata Group as the most valued brand in India at $ 7.3 billion. The company increased its value by 22.8% to jump from fourth position last year.
LIC to put Rs. 30,000 crores in NHAI:
For a funding of Rs. 30,000 crore in the current financial year, the national highways authority is tapping LIC. In response to that, LIC has given in-principle nod in order subscribe to the bonds issued by National Highways Authority of India (NHAI), as informed by an official.
We need long-term funds (for NHAI), and this funding arrangement will be for a span of 30 years, said the official. He added, the advantage of insurance funds is that these are long – term. The official also added that LIC is a sensible choice given the gestation period of road projects is also long. Modalities for the arrangement are being worked out. We will see how we can negotiate the coupon rates, the official said.