New business margin at India’s LIC falls, profit rises slightly

LIC posted a 2.5% year-on-year rise in its fourth-quarter profit to 137.63 billion rupees. — Reuters

BENGALURU: Life Insurance Corp (LIC) of India, the country’s biggest insurer, has reported a drop in its new business margin in the fourth quarter, while its profit rose slightly.

Value of new-business margin (VNB), a measure of the profit margin of new premiums earned, fell to 17.2% for the quarter-ended March 31, from 19% a year earlier.