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(10 May 2024, 17:12)

LIC’s April 2024 total premium collection hits decade high of Rs 12,384 crore



State-owned country's largest life insurer, Life Insurance Corporation of India (LIC) on Friday said its premium collection in April was Rs 12,384 crore, the highest for the month since 2014.

The total premium collection for the life insurance industry surged by 61% compared to April 2023. This strong growth was primarily driven by a 113% increase in premium collection by LIC in April 2024.

Quoting Life Insurance Council's latest figures, the insurance behemoth said the total premium collected by LIC in April 2024 was Rs 12,383.64 crore -- 113.14% higher than the Rs 5,810.10 crore premium collected the same month a year ago.

In a statement, the insurer said, “this remarkable achievement can be attributed to LIC's implementation of innovative marketin...

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