LIC continued its impressive new business performance despite a highly challenging business environment due to the corona pandemic for the entire previous year.
In 2020-21, LIC has achieved its highest-ever first year premium income of Rs 56,406 crore under individual assurance business with a 10.11% growth over last year. LIC also procured 2.10 crore policies, out of which 46.72 lakh were procured in March alone. LIC’s pension and group schemes vertical also created a record by clocking its highest-ever new business premium income of Rs 1,27,768 crore over a base of Rs 1,26,749 crore in the previous year.
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