LIC News: LIC sees 20% fall in death claims in Q1 | India Business News – Times of India
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NEW DELHI: Insurance behemoth LIC witnessed a decline of nearly 20% in death claims in the June quarter with Covid impact seen to be ebbing, though the amount is still higher than pre-2020 levels, officials said.
In the June quarter of FY22, settlement of death claims was to the tune of Rs 7,111 crore, which for Q1 of this year was Rs 5,743 crore, LIC chairman M R Kumar said in a post-earnings call with analysts. “So, there is quite a decrease, and it’s quite obvious that whatever decrease was there based on Covid… going away now, Q1 to Q1 of the previous year,” Kumar said.
The claim rates had been stable before the pandemic, said Dinesh Pant, executive director and appointed actuary, LIC. He added that there was a spike in claims in the last two years due to Covid. agencies
In the June quarter of FY22, settlement of death claims was to the tune of Rs 7,111 crore, which for Q1 of this year was Rs 5,743 crore, LIC chairman M R Kumar said in a post-earnings call with analysts. “So, there is quite a decrease, and it’s quite obvious that whatever decrease was there based on Covid… going away now, Q1 to Q1 of the previous year,” Kumar said.
The claim rates had been stable before the pandemic, said Dinesh Pant, executive director and appointed actuary, LIC. He added that there was a spike in claims in the last two years due to Covid. agencies
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