LIC reports nine-month profit

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

LIC (International) BSC booked profits worth USD 3.90 million from the sale of investments in the first nine months of 2022, compared to USD 10.85 m during the corresponding period of last year.

The results came during a meeting held Tuesday in Abu Dhabi in the presence of MR Kumar, Chairman of the Board, Siddhartha Mohanty, Deputy Chairman of the Board and other Directors of the Board.

The meeting also approved unaudited third-quarter financial results of the Company. Nine-month Net Insurance Premium Income of the Company was USD 77.52 m compared to USD 108.31 m for the corresponding period of last year.

LIC paid USD 210.31 m as claims to policyholders during the 9-month period ended 30.09.2022 as compared to USD 154.31 m during the corresponding period of last year. The Investment Income of the Company was USD 60.66 m against USD 69.79 m during the corresponding period of last year. As of 31.10.2022, 13 Consultants have qualified for MDRT this year.