💨 Abstract

Life Insurance Corporation of India (LIC), India's largest insurer, reported a 3.8% decrease in Q2 profit due to higher benefit payouts exceeding earned premiums. Profit after tax fell to 76.21 billion rupees ($903.6 million) from 79.25 billion rupees in the same quarter last year. The decline occurred despite a stronger Indian rupee against the US dollar.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖