Insurance News
Prev Next
Canara HSBC OBC Life Insurance launches its new plan 'iSelect Term Plan'
28-Feb-2017 (09:31)
LIC's total premium income grows 12% in nine months of FY17
27-Feb-2017 (19:19)

Life Insurance Corporation (LIC) posted a robust growth of 12.43 per cent in the total premium income at Rs 1.45 trillion for the first nine months of the current fiscal ended December 31, 2016 from Rs 1.29 trillion in the corresponding period a year ago.

Total assets also grew by 12.81 per cent to Rs 24.42 trillion in the reporting period from Rs 21.65 trillion in the year-ago period.

The life insurance behemoth's gross total income grew 15.76 per cent to Rs 3.37 trillion in the reporting period from Rs 2.91 trillion a year ago. The new business performance saw an impressive increase of 40.11 per cent in first year premium during the period under review.

"Our performance is in line with our expectation. The Corporation has recorded healthy results based on its strong fundamentals and core values," newly appointed LIC Chairman V K Sharma told media here today.

"Trusted customers across the country have supported and enabled us to report a robust financial performance. We endeavour to drive both customer satisfaction and profitability and focus on technology to constantly improve customer experience and organisational efficiencies," Sharma said.

Talking about LIC's expectation from new business for the current fiscal, he said "We hope to achieve Rs 35,000 crore from new business on the individual basis from Rs 31,000 crore which has been achieved by us so far whereas overall premium target remains unchanged by the fiscal-end."

Pension and group security business also grew by 27 per cent in the period under observation to Rs 51,004 crore from Rs 40,118 crore a year ago. Moreover, under social security schemes, LIC has insured 5.81 crore lives.

Total policy payments amounts rose by 18.63 per cent to Rs 1.12 trillion in the reporting period from Rs 94,576 core a year ago. In the current fiscal, the Corporation has added more than 44,000 agents to the rolls so far.

On the occasion of diamond jubilee, LIC launched a special plan, Bima Diamond. The state-run insurer has sold over 5,86,000 policies under the plan collecting over Rs 322 crore premium.

On the investment part, LIC has been subdued when it comes to investment in equities. It has made an investment of Rs 39,000 crore in equities in the reporting period, down from Rs 64,000 crore a year ago.

"So far as investment part is concerned, we are generating investing surplus and we keep on investing as per guidelines," he said, adding "this year in equity investments we are subdued, deliberately because markets have gone up very high. But LIC has always been contrarian. Our primary goal is to invest for long term and not play trader in the market, Sharma said.

LIC has booked a profit of Rs 16,000 crore during the reporting period from Rs 9,500 crore a year ago, he said.

LIC has invested roughly Rs 1.98 trillion in G-sec, SDL and corporate bond in the reporting period, he said.

Insurance industry, he said, is on growth curve and it will grow in double digit. "We are outperforming industry and next year also our focus to outperform will be there."

Digital focus has increased at LIC. "Digital, our focus has increased and created mission to provide end to end solutions for all the customers," he said.

LIC has applied for three new products falling under categories like regular, single and group insurance, Sharma added.
SBI Life Insurance to actively consider launching IPO in next fiscal 2017-18
27-Feb-2017 (18:30)
HDFC Life Insurance ties-up with ET Money to launch data-led policy
27-Feb-2017 (17:57)
Oriental, National and United India Insurance likely to be merged to fetch better valuations
27-Feb-2017 (09:32)
IndiaFirst Life Insurance eyes to collect Rs 2000 crore premium by March end
25-Feb-2017 (09:34)
Airtel Payments Bank to sell Insurance, MF products
23-Feb-2017 (17:33)
Insurance regulator IRDAI to form actuary panels for life, general insurers
21-Feb-2017 (09:35)
HDFC Life-Max Life merger is a structural change: says Keki Mistry
20-Feb-2017 (16:29)
Banks look for insurance as cyber threats increase
20-Feb-2017 (10:24)
Insurance penetration in India likely to cross 4% this year: ASSOCHAM
16-Feb-2017 (09:36)
HDFC life Insurance unveils its new product 'Pragati'
15-Feb-2017 (16:43)
Life Insurance Corporation stake In Infosys raises to 7.02%
13-Feb-2017 (09:37)
Life insurance companies new business premium up 28% in January
13-Feb-2017 (09:30)
Connect with us :   
About us
Our Services
Core Values
Investor Relations
Product & Services
Institutional Broking
Clearing Services
Trade & Products
Globe Connect Pro
Globe Trade Smart
Globe Connect Mobile/Tablet
Globe News Connect
Back Office
Back Office
KYC/KDC Status
Mutual Fund
RMS Policy
Download Forms
Useful Links
Exchange Holidays
Policies, Procedures, Rights, Obligations and RDD
Guidance Note on FATCA and CRS May 2016
Right and Obligation, RDD, Guidance Note in Vernacular Language
In case of any grievances pleae write to / (For Trading) (For DP) (For PMS) (For Commodities)
SEBI Regn. No. NSE.:INB/INF/INE 230663732, TM No.:06637, Clearing No.- M50302 | SEBI Regn. No. BSE.:INB/INF/INE 010663731, Clearing No.- 3179 | SEBI Regn No. MSEI :INB/F 260663738, INE 260663732, TM Code-1004, Clearing Member Code- 4 | USE SEBI Regn no. - INE 270663732 , CM code: 06637 | SEBI Regn for DP : IN-DP-NSDL-97-99, NSDL- DP ID: IN300966, CDSL DP ID: 12020600 | Research Analysts Regn No. INH100001187 | PMS Regn No. INP000002361
* Through subsidiary Globe Commodities Ltd. --> Commodity Membership No.: NCDEX- FMC Regn. No. NCDEX/TCM/CORP/0004, TM Code-00012 | MCX- FMC Regn. No. MCX/TCM/CORP/0628, CM Code-8550 | ICEX- FMC Regn. No. ICEX/TCM/CORP/0011, TM Code- 1009 | NMCE- FMC Regn. No. NMCE/TCM/CORP/0018, TM Code-CL0111 | ACE - FMC Registration no.- ACEL/TCM/CORP/0163, TM code- 4001 | UCX FMC Regn. No.: UCX/TCM?CORP/0014, TM Code- 10014 | NCDEX Spot Exchange Membership no.- NCDEXSPOT-CR-07-10011
** Through step in subsidiary Globe Comex International DMCC --> DGCX **TM Id.1064, CM Id.3064*
"We also do Pro-Account trading in Commodity Segment.."
"KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."
Attention Investors:
"Prevent Unauthorised transactions in your account --> Update your mobile numbers/email IDs with your Stock Brokers. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day .......... Issued in the interest of investors"
"Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from NSDL/CDSL on the same day......................issued in the interest of investors."
"No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."
© 2013 Globe Capital Market Limited. All rights reserved
Designed, Developed and Content powered by C-MOTS Infotech (ISO 9001:2008 Certified) Privacy Policy Disclaimer Terms and Conditions