LIC Posts Higher Profit on Group Insurance Growth
Life Insurance Corporation of India reported a twenty percent increase in quarterly profit aided by group insurance growth. However falling retail sales of market-linked policies weighed on overall performance.
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LIFE INSURANCE CORPORATION posted a 20% rise in net profit to 120.76 billion rupees on Thursday, driven by robust growth in its group insurance business. The state-run insurer in India faced headwinds as retail sales of market-linked policies slowed amid declining equity markets. The earnings expansion highlights a strategic shift toward conventional protection products as investors pull back from riskier asset classes.
