LIC Investment income at $65.38m

LIC (International) yesterday announced recording an investment income of US$65.38 million and net profit of US$47.42 million for its third quarter.

The company, a joint venture with International Agency Company Ltd. (Intercol), posted underwritten new business premium of 98 million for the quarter. The results were announced during a board meeting held yesterday in Bahrain. During Q3, two Consultants qualified as COT (Court of the Table) and seventeen Consultants qualified as MDRT (Million Dollar Round Table).

The company also said it is in the process of introducing Group Insurance Product and Money back products in the market to strengthen and diversify the product portfolio. Present at the meeting were M. R. Kumar, Chairman of LIC of India, Thomas Mathew, Member, Abdul Rahman Ali Alwazzan, Director, Intercol and Sunil Kumar Thakur, CEO and Managing Director, LIC (International) Bahrain.

The company provides insurance coverage in four GCC countries.