Life Insurance Corporation of India (LIC) said it had achieved first-year premium income of ₹56,406 crore for FY21 under the individual assurance business, a 10.1% increase from the previous year.
The insurer had also procured 2.1 crore policies and garnered a market share of 74.6% for FY21.
In first-year premium, LIC reported a market share of 66.2%. Pension and group schemes vertical of the insurer saw new business premium income of ₹1,27,768 crore from ₹1,26,749 crore in the previous year. With the addition of 3,45,469 agents, LIC now has a sales force of 13,53,808 agents.
