The Central Government is preparing to sell the shares of the Life Insurance Corporation of India in the open market. LIC's IPO is likely to be the largest IPO ever. Earlier, a big positive thing has come up in the case of LIC.
There is big news about LIC.
LIC posted a net profit of Rs 1,437 crore for the half-year ended September 30, 2021.
1.49 lakh crore in the first half of this year.
While preparing for the sale of shares, the big news has come about LIC. Life Insurance Corporation of India, the country's largest insurer, has reported a solid profit in the first quarter of the current financial year. LIC posted a net profit of Rs 1,437 crore for the half-year ended September 30, 2021.
LIC earned Rs 1.49 lakh crore in the March-September period. This is an increase of 12 percent over the group year. 1.33 lakh crore in the first half of the previous year. The first consolidated profit for the current year increased by Rs 6 crore.
Despite the 8 percent increase in bonuses and other benefits, LIC has made good profits. In the first half, LIC spent Rs 3.08 lakh crore on bonuses. LIC has maintained its momentum despite the Corona crisis and the pressure of claims. LIC gets a Rs 4432 crore increase in personal pension Group insurance premiums increased by Rs 90 crore to Rs 66,295 crore. The personal life insurance premium has increased by Rs 737.08 crore to Rs 1,085 crore, according to LIC.
One lakh crore IPO:
LIC's IPO is expected to hit the capital markets in March. Almost all the preparations for the IPO have been completed. The sale of LIC is expected to raise at least Rs 1 lakh crore.