Life Insurance Corporation of India (LIC), the country’s largest insurer, has achieved a 22.52 per cent increase in new business premiums at Rs 1,32,680.98 crore during the first seven months of FY25, compared to the corresponding figure of Rs 1,08,289.78 crore in the same period of the previous fiscal year, data showed on Monday.
In the Individual Premium category, LIC collected Rs 33,204.36 crore in the first seven months of FY25, marking a 13.58 per cent growth from Rs 29,23...
LIC’s new premiums surge by 22.5 pc to Rs 1.33 lakh crore in current fiscal year
The Indian stock market witnessed a weak trend in the last week due to heavy selling in the largecaps.
In the last week, the combined market cap of six of the top 10 most valued companies eroded by Rs 1.55 lakh crore.
In the top 10, Reliance Industries (RIL), Bharti Airtel, ICICI Bank, ITC, Hindustan Unilever, and Life Insurance Corporation of India (LIC) were losers. Tata Consultancy Services (TCS), HDFC Bank, Infosys, and State Bank of India (SBI) were gainers.
The market cap...
RIL mcap decreases by Rs 74,000 crore; SBI, TCS, Infosys biggest gainers
Life Insurance Corporation of India had received refund orders for Assessment Years 2012-13, 2013-14, 2014-15, 2016-17, 2017-18, 2018-19 and 2019-20.
The total amount of refund was Rs 25,464.46 crore. In this regard, the Income Tax Department has released Rs. 21,740.77 crore on February 15.
The Corporation is pursuing the balance with the Income Tax Department, LIC said.
LIC's Profit after Tax (PAT) for the nine months period ended December 31, 2023 was Rs 26,913 crore.
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LIC received refund orders for Rs 21,740cr from Income Tax Dept
