LIC posts huge jump in December premium collection

February 6th, 2009 - 8:44 pm ICT by IANS  

Chennai, Feb 6 (IANS) State-owned Life Insurance Corp (LIC) posted new business income last December worth Rs.69.61 billion (Rs.6,961 crore), selling over 4.65 million policies.According to figures released by Insurance Regulatory and Development Authority (IRDA) Friday, it was a huge jump that LIC registered when compared to the collection in November: Rs.33.46 billion (Rs.3,346 crore) from selling 2.58 million policies.

The 20-member private sector club together did new business worth Rs.27.24 billion (Rs.2,724 crore), selling a little over 1.4 million policies in December 2008, as compared to Rs.23.06 billion premium earned from 1.14 million policies sold the previous month.

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