LIC Q4 net rises fivefold to Rs 13,421 cr, net premium income dips 8.3%

Life Insurance Corporation of India (LIC) reported a 466 per cent year-on-year (YoY) increase in its standalone net profit for the January-March period of FY23 to Rs 13,421 crore.

“According to the board’s approved policy on distribution of surplus, of the total surplus of participating fund, the corporation has transferred 92.5 per cent (95 per cent in FY 2021-22) for the current financial year i.e. FY2022-23 to the…