LIC Business grows 10% in the financial year 2020 -21
Cleary LIC has emerged a winner in the insurance market in the Covid-19 pandemic. The trust of Indians hugely lies with the Insurance gaint in the Indian market. Below are a few interesting facts and observations of the current year.
Performance Highlights of LIC: 2020-21
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LIC procured 2.10 Crore new policies & settled 2.28 Crores Claims -A humongous task in the pandemic times. It could be possible due to total dedication of workforce
Market Share of LIC in
Composite Policies: 74.58%
Composite Share in FYP: 66.18%
After 22 years of Competition also, LIC is cruising with >70% Market Share
- Growth in Business of Pensions & Group Schemes – Astounding 39%
- Highest ever FYPI (First Year Premium Income) of Rs 56,285 Crores was realized by LIC
*As per International Reports of UK,
