LIC Q1 Premium income jumps

LIC International announced recording a premium income of US$ 117.03 million in the first quarter of 2019 as compared to US$28.53 million in last year 2018. An amount of US$ 118.91 million has been paid out as claims to customers during Q1 as compared to US$ 56.47 million paid during the corresponding period of last year.

The total investment income was US$ 22.56 million and the surplus generated during the quarter was USD 15.83 million as compared to US$ 8.02 million during the corresponding period of last year. This was announced during the 106th Board Meeting of the Board of Directors of LIC (International) BSC held on 13th June 2019 at The Diplomatic Radisson Blu, Bahrain.

LIC International is a joint venture Company of India’s life insurance Company LIC and Bahrain’s prestigious business house ‘International Agencies Company Ltd. (Intercol). LIC has been providing life insurance services to its customers since year 1989.

M.R. Kumar, Chairman, LIC of India, Abdulrahman Ali Alwazzan, Director, Intercol and Sunil Kumar Thakur, CEO & Managing Director were present for the meeting. A detailed review of New Business Performance, including the operating performance for the quarter of 2019 was presented in the meeting.