💨 Abstract

Life Insurance Corporation of India (LIC), India's largest insurer, reported a 3.8% decline in Q2 profit due to increased benefit payouts. Despite a 17% rise in benefits, net premium income grew 11.6% to 1.20 trillion rupees. The insurer's focus on high-margin non-participating policies and rising demand for insurance post-COVID-19 contributed to premium growth.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖