LIC (International) Q2 premium income jumps
LIC (International) reported a substantial increase in its second-quarter total premium income to US$ 150.14 million from US$ 63.36 million reported in the same quarter a year ago.
During the quarter, LIC paid out US$ 274.10m as claims to policyholders as compared to US$ 291.48m paid during the corresponding period of last year. The company generated total investment income of US$ 44.68m during the quarter. Surplus during Q2 was US$ 37.36m as compared to US$ 2.40m deficit during the corresponding period of last year.
The results were announced during a meeting of the board of directors of LIC (International) BSC held at The Diplomatic Radisson Blu, Bahrain yesterday. The meeting was attended by MR Kumar, Chairman, LIC of India, Abdulrahman Ali Alwazzan, Director, Intercol, Thomas Mathew T, Director, Sunil Kumar Thakur, CEO & MD, LIC (International) Bahrain, officials from LIC (International) and Deloitte, our Statutory Auditor.
LIC said, during the year, 10 consultants have qualified for Million Dollar Round Table (MDRT) and one for Court of the Table as compared to 11 MDRT during the corresponding period of last year.
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