Performance Highlights of LIC : 2020-21
LIC procured 2.10 Crore new policies & settled 2.28 Crores Claims -A humongous task in the pandemic times. It could be possible due to total dedication of workforce
Market Share of LIC in
◆ Composite Policies* : 74.58%
◆ Composite Share in FYP : 66.18%
After 22 years of Competition also,
◆ LIC is cruising with >70% Market Share Growth in Business of Pensions & Group Schemes – Astounding 39%
◆ The Highest ever FYPI (First Year Premium Income) of Rs 56,285 Crores was realized by LIC of India
As per International Reports of UK
◆ On the basis of Brand Strength, LIC Occupies 3rd position
(Earlier it was 10th position. A Huge improvement)
◆ LIC was rated as 10th Most Valuable Brand throughout the Globe
LIC Claims :
◆ Death Claim Settlement Ratio – 98.74%◆ Non Early Death Claim Settlement Ratio -99.86%
Profit and Investments :
◆ Profits on Equities -Rs 36,900 Crores( Last Year Rs 18,370 Crores)◆ Investment by LIC in Equity portfolio -Rs 94,000 Crores (Last Year -Around Rs 60,000 Crores)◆ In the month of April 2021 alone, LIC booked profits of Rs 3,161 Crores on Investments◆ Golden Jubilee Foundation of LIC disbursed Rs 11.59 crores through 46 projects in 2020-21. Since it’s inception, LIC disbursed 102 crores through 594 projects ( Rs 40 Cr towards scholarship to Students)
Success Rate of LIC
◆ In Court Cases – 99.42%
◆ Consumer Cases – 87.96%
Spectacular Achievement of LIC
◆ There was no Penalty for RTI, despite being huge organization
◆ 2,21,036 Agents were recruited by LIC in 2020-21.Net addition of Agents -1,44,982
◆ 72% of Total Premium was received by LIC either through Online or through Merchant Portals
◆ LIC achieved the highest ever MDRT Agents -16,564
◆ IDBI Bank has contributed more than 82,000 Policies and 863 Crores of Premium under B&AC Channel
◆ In 6 months time, LIC will be one of the most technologically advanced & digitally organized entity
Steps are being taken to Centralized Policy Bond Printing for all 8 Zones will be done the latest by Quarter End
