- LIC registered Profit after tax (PAT) was Rs 16,635 crore for the half year ended September 30th, 2022, compared to Rs. 1,437 crore for the half year period ended September 30th, 2021.
- During the half year ended September 30th, 2022, a total of 83,59,029 policies were sold in the individual segment
- Company recorded a 23.87% increase in Total Premium Income
For the second quarter of 2022, LIC recorded a 23.87% increase in Total Premium Income at Rs 2,30,456 crore, compared to Rs. 1,86,053 crore for the half year ended September 30th, 2021.
Profit after tax (PAT) was Rs 16,635 crore for the half year ended September 30th, 2022, compared to Rs. 1,437 crore for the half year period ended September 30th, 2021.
The current period profit has increased due to the transfer of Rs. 14,271.80 crore (net of tax) from non par to shareholders account for accretions on the available solvency margin. The total amount of Rs. 14,271.80 crore includes Rs. 5,580.72 crore for the quarter ended September 30th, 2022, as well as Rs. 4,148.78 crore and Rs. 4,542.31 crore for the previous two quarters.
During the half year ended September 30th, 2022, a total of 83,59,029 policies were sold in the individual segment, representing a 13.55% increase over the same six month period last year when 73,61,410 policies were sold.
Overall market share by First Year Premium Income (according to IRDAI) increased to 68.25% for the half year ended September 30th 2022, up from 63.25% for the full year FY 2021-22.
Assets Under Management (AUM) increased by 8.69% year on year to Rs 42,93,778 crore on September 30th, 2022, from Rs 39,50,633 crore on September 30th, 2021.
The operating expense ratio was 16.69% for the half year ending September 30th, 2022, compared to 15.33% for the half year ending.
The policyholders fund’s net NPA was Rs 12.72 crore on September 30th, 2022, compared to Rs 191.56 crore on September 30th, 2021.
LIC share closed @ Rs 628.05 in BSE on 11th Nov 2022.
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