LIC reports income, maintains bonus rates

LIC (International) yesterday announced recording an Investment Income of the Company of USD96.52 million for the period ending 31 December 2018, which is 1.5 per cent less than that of last year. The board took note of the subdued performance during the year and decided to maintain the bonus rates on participating policies. The company launched five new products and three riders during the year the latest one being Immediate Future Secure Pension Plan (plan 249).

Board Members said they hope that these products will help the company to revert back to normal growth in new business during the year 2019. The meeting was held in the presence of Hemant Bhargava, Chairman of LIC of India and other directors of the board. The board welcomed B Venugopal, Managing Director, LIC of India as Member of the Board.

A detailed review of New Business Performance, financial and also investment income for the year 2018 was made in the meeting. During the year, three Consultant qualified as COT (Court of the Table) and 25 Consultants qualified as MDRT (Million Dollar Round Table).