LIC refutes wealth erosion rumours, says it is in “sound financial health”

LIC refutes wealth erosion rumours, says it is in “sound financial health”

Over the past few days some miscreants have been spreading false
information and malicious rumours about LIC on WhatsApp and other social
media platforms. The messages wrongly speculate about LIC’s financial health
and attempt to portray the largest Life Insurer in poor light in the eyes of its
stakeholders. These news are factually incorrect, uncorroborated and intend to
tarnish the image of LIC brand and also create panic in the minds of its
policyholders.
LIC refutes such false rumours and would like to assure its policyholders
about its sound financial health and urges them not to take cognizance of such
misleading news. In fact, LIC has declared the Highest Ever Bonus amounting
to more than Rs 50000 crores to its policy holders for the fiscal 2018-19.LIC’s
market share as on 31st Aug 2019 for number of policies is 72.84% and for First
year premium it is 73.06%. It is pertinent to note that LIC’s market share in
First year premium has grown from 66.24% as on 31st March 2019 to 73.06% as
on 31st Aug 2019.