
In a regulatory filing, the Life Insurance Corporation (LIC), a major insurance company, reported that its total income for the reporting quarter increased to Rs 2,50,923 crore from Rs 2,00,185 crore in the same period of the previous fiscal year. Additionally, LIC’s net profit for the fourth quarter ended March 2024 saw a marginal increase of 2% to Rs 13,763 crore, compared to Rs 13,428 crore in the corresponding quarter of the previous year.


LIC also saw improvements in its income from first-year premiums, which rose to Rs 13,810 crore in the January-March quarter, compared to Rs 12,811 crore in the same period of the previous fiscal year. Additionally, the income from renewal premiums during the reporting period increased to Rs 77,368 crore, compared to Rs 76,009 crore in the previous year.
For the entire financial year ending March 2024, LIC’s profit amounted to Rs 40,676 crore, an increase from the previous fiscal year’s profit of Rs 36,397 crore.