The stocks of Life Insurance Corporation of India (LIC) on BSE were trading at ₹1,136.00 up by 10.30 points (0.91 per cent) at 11:30 am.
Life Insurance Corporation of India (LIC) on Thursday announced a 9.61 per cent increase in profit after tax to ₹10,461 crore for the first quarter of fiscal year 2025, ending June 30, 2024. The insurance giant’s total premium income rose by 15.66 per cent to ₹1,13,770 crore compared to the same period last year.
“As leader of the insurance industry in India we are conscious of our responsibility to deliver enhanced insurance penetration and we look forward to working with the regulatory authorities to achieve the same. We are committed to further optimizing our product and channel mix and improvement of margins. With the digital transformation exercise underway we intend to create a seamless experience for our customers and partners. We thank our customers, shareholders, distribution partners and employees whose continuous support allows us to create superior sustainable value as we move to next stage of our journey.” said Siddhartha Mohanty, CEO & MD, LIC.