In the country when all the economic activities in the crisis created due to Corona virus infection were stopped and all the sectors were closed. In this way, the country’s largest life insurance company Life Insurance Corporation of India sold a record 2.19 crore new insurance policies in the financial year 2019-20.
According to the report, this number is the highest in the last six years. The company has set this record despite the Kovid-19 crisis at the end of the financial year. The company said in a statement that during 2019-20, it registered a growth of 25.17 percent in new business based on the premium received on the new policy.
By 31 March 2020, the company received a new premium of Rs 1.78 lakh crore under this head. During this time the company had a market share of 68.74 percent. LIC has an asset base of Rs 31,96,214.81 crore, starting with an initial investment of Rs 5 crore in the year 1956.