Messages wrongly speculate about LIC’s monetary health and are attempting to verbalize the biggest existence insurer in miserable gentle within the eyes of its stakeholders, stated the corporation. PTIUpdated:October 9, 2019, 10: 50 PM IST Impress of LIC.
Mumbai: Refuting claims of its mature monetary Space, national insurer Lifestyles Insurance coverage Corporation (LIC) on Wednesday assured its millions of policyholders that their money is safe and precise as its “monetary health is sound”.
The clarification came after messages on social media claimed that the corporation is in heavy losses, elevating issues over the safety of money of hundreds of hundreds of policyholders.
“We refute such incorrect rumours and we would well maybe deal with to make sure our policyholders about its sound monetary health and urges them no longer to fetch cognizance of such deceptive info,” LIC stated in a press birth. The insurer stated the records on social media are factually unsuitable, uncorroborated and intend to tarnish its image and likewise compose panic within the minds of the policyholders.
Messages also wrongly speculate about LIC’s monetary health and are attempting to verbalize the biggest existence insurer in miserable gentle within the eyes of its stakeholders, it stated.
All over 2018-19, LIC had declared the supreme-ever bonus amounting to Rs 50,000 crore and upwards to its policyholders.
As of August 31, the insurer’s market piece, in phrases of collection of policies is 72.84% and in phrases of First year top charge it’s miles 73.06%, the statement stated.
LIC’s market piece in First year top charge has grown from 66.24 % in March 2019 to 73.06% in August 2019, it stated.
The social media messages came in after media stories stated LIC has fetch a severe beating in his marker play to the tune of tens of hundreds of crore in market trace as many of the companies it has invested are buying and selling powerful below its investment trace.
Being the biggest monetary institution, LIC will be the biggest investor within the equities and debt market valued at trillions of rupees.
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