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LIC reports phenomenal H1 results, income from all premia up

The Life Insurance Corporation of India has reported a phenomenal growth during the half-year ended September 30, 1998.

LIC's total individual business premium income was Rs 68.69 billion, up 20.03 per cent. Individual pension premium at Rs 332.4 million was up 107.62 per cent.

Total group insurance premium income stood at Rs 4.16 billion, up 12.89 per cent. Total premium income was Rs 73.19 billion, up 19.83 per cent. LIC has settled around 2 million claims during the half-year ended September 30, 1998.

In a statement, chairman Krishnamurthy said that LIC had covered a total of 4.65 million lives generating a new business premium income of Rs 7.91 billion under both individual and group business, showing a growth of 14.41 per cent in terms of lives and 35.54 per cent in terms of new business premium. The performance under individual business reflected growth rates of 13.7 per cent in terms of policies and sum assured and 27 per cent in terms of first premium income.

UNI

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