LIC Pension and Group Schemes Vertical creates record by achieving Rs 1 lakh crore premium income

LIC Pension and Group Schemes Vertical creates record by achieving Rs 1 lakh crore premium income

AgenciesUpdated: Wednesday, February 03, 2021, 07:02 AM IST
article-image
LIC Pension and Group Schemes Vertical creates record by achieving Rs 1 lakh crore premium income |

LIC Pension and Group Schemes Vertical, looking after the Group Schemes and Superannuation business of the Corporation created a record by clocking more than Rs 1 lakh crore premium Income during the first 10 Months of the Current Financial Year 2020 – 2021.

This is first time ever any Single Vertical of the Insurer has crossed such a gigantic Premium Income figure successively for two years.

Pension and Group Schemes Vertical of LIC provides Employees Retiral Funds’ Management Solution to the Who’s Who of India Inc and has been steadily holding around 80% market share in New Business Premium post opening of the Life Insurance Industry.

This Phenomenal Performance holds Great Significance since it came amidst Mounting Challenges and Multiplying Complexities owing to Pandemic fuelled Economic Headwinds.

This vertical of the Corporation manages Funds of over Rs.7 lakh crores - through approximate 80,000+ Gratuity, Superannuation and Leave Encashment Schemes.

RECENT STORIES

OnePlus Nord 5, OnePlus Nord CE 5 India Sale Dates Announced: Everything You Need To Know Ahead Of...

OnePlus Nord 5, OnePlus Nord CE 5 India Sale Dates Announced: Everything You Need To Know Ahead Of...

SpiceJet Window Frame Dislodged Mid-Air On Goa-Pune Flight; Passengers Safe (VIDEO)

SpiceJet Window Frame Dislodged Mid-Air On Goa-Pune Flight; Passengers Safe (VIDEO)

Sensex, Nifty Pare Early Gains To End Low; HDFC Bank, L&T & Reliance Industries Shares Drag Ahead Of...

Sensex, Nifty Pare Early Gains To End Low; HDFC Bank, L&T & Reliance Industries Shares Drag Ahead Of...

India Added 6.7% To Global GDP Growth In FY25, State Bank Of India Alone Contributed 1.1%: SBI...

India Added 6.7% To Global GDP Growth In FY25, State Bank Of India Alone Contributed 1.1%: SBI...

IPO: Steamhouse India Aims To Raise Between ₹500 Crore & ₹700 Crore; Serves Over 167 Clients In...

IPO: Steamhouse India Aims To Raise Between ₹500 Crore & ₹700 Crore; Serves Over 167 Clients In...