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After encouraging Q4, outlook positive for public sector insurer LIC

LIC has an industry leading position despite the aggressive catch up from private competitors

LIC. life insurance corporation
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Photo Credit: Ruby Sharma

Devangshu Datta

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India’s largest life insurer, Life Insurance Corporation of India (LIC) reported encouraging performance in the January-March quarter (Q4) of FY24. Total annual premium equivalent (APE) was at Rs 21,180 crore, up 10.7 per cent year-on-year (Y-o-Y), with group APE of Rs 3,890 crore, up 60 per cent Y-o-Y, though individual APE contracted 2.1 per cent Y-o-Y. The participatory book contracted 20.2 per cent Y-o-Y, but the non-par grew by 206 per cent to Rs 3,740 crore. Embedded Value grew by a strong 24.9 per cent Y-o-Y to Rs 7.27 trillion. The Q4FY24 PAT grew 2.5 per cent Y-o-Y to Rs

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