Life November 2019
LIC’s market share increased by 17% in August:
The market share of LIC has been increased by 17% in first premium income in August 2019, according to the Managing Director TC Susheel Kumar. Kumar revealed this information during a meeting of the Corporation’s branch heads in Coimbatore. He stated that in the month of August alone, LIC’s market share had increased to 67% from 50%.
No plan to go public, says LIC:
It is too early for the largest domestic life insurance company to go public, says Mr. Kumar, LIC Chairman. Kumar further said that while the economy is seeing a slowdown, life insurance as sector is doing well.
The potential is high, and consolidation is still far away, has said, LIC possessed total asset under management in excess of Rs. 31 lakh crore as of July end. Kumar stated LIC has invested Rs. 33,000 crore in equities this year. The insurer has madeRs. 13,000 crore profit on this. Last year, it made Rs. 23,0000 crore profit from equity he said.
SBI Life Insurance increased to Rs. 872 crores after Q2 results:
SBI Life Insurance company grew 3.91% to Rs. 872.50 after the insurer declared its Q2 figures, New Business premiums (NBP)_ jumped 40% to Rs. 7,820 crore in the first half of the year ending March 2020 over Rs. 5,570 in H1 FY 2019.