LIC shares jump on new policy features anticipation

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LIC shares jump on new policy features anticipation
Credit: © Reuters.

MUMBAI - Shares of Life Insurance Corporation (NS: LIFI ) of India (LIC) saw a notable increase today, closing at Rs 677.70 on the National Stock Exchange (NSE), after reaching a high of Rs 682 amid investor enthusiasm. The surge is attributed to the anticipation of new policy features, including loan options and early withdrawal benefits, which are expected to be introduced in early December.

LIC's robust position in the insurance market is reinforced by its substantial market share of 58.50%. The company's Chairman, Mr. Mohanty, has emphasized LIC's commitment to innovation and customer-centric initiatives. These include enhancements in policy maturity benefits and the introduction of additional policies scheduled for this year.

The company's financial performance in the first half of the year has been strong, contributing to a significant increase in Assets Under Management (AUM). LIC reported an AUM growth of 10.47%, reaching Rs 47,43,389 crore. This financial upturn reflects the insurer's continued dominance and potential for premium growth.

Investors are closely watching LIC's strategic moves as they unfold, with many showing confidence in the company's direction and future offerings.

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