M R Kumar, chairman, Life Insurance Corporation (LIC), said the company was currently growing at 18% and would likely grow at 20% in terms of the number of policies, to reach 2.5 crore policies by the end of March 31, 2020. LIC wants to maintain the profit of Rs 21,000 core it had made last year from investments in the equity market and hopes to, at least, reach Rs 22,000 crore this year, he said.
LIC had sold around 2 crore policies in the last five years, he said. In the current year, the Indian life insurance business reported a new business premium of Rs 1.69 lakh crore of which LIC had garnered about Rs 1.2 lakh crore.
