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IPO-bound Life Insurance Corporation (LIC) has reported a net profit of Rs 1,437 crore in the first half of FY22 (April-September), compared to just Rs 6.14 crore in the year-ago period. The sharp jump in profit was aided by a 12 per cent rise in income from investments even as net premium earned by the insurer reported a tepid growth.
In FY21, the state-owned insurance giant had reported a net profit of Rs 2,906.77 crore, and in FY20, profits were to the tune of Rs 2,712.7 crore.
Net premiums, premiums earned minus premium ceded to reinsurers, increased by 0.91 per cent to
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