LIC posts H1 2022 premium income of $47.6m

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

LIC (International) yesterday reported a total premium income of the company for the half-year period ending on 30.06.2022 of USD 47.6 million as compared to USD 88.4 m for the corresponding period of last year.

LIC said it paid USD 72.9 m as claims to policyholders during H1 compared to USD 118.6 m paid during the corresponding period of last year.

The total investment income of the Company was USD 43.5 m against USD 48.2 m during the corresponding period of last year.

Loss during the period was USD 28.2 m compared to a profit of USD 7.5 m during the corresponding period of last year. The results were announced on Tuesday during a board meeting at InterContinental Hotel- Festival City Dubai, UAE.

MR Kumar, Chairman of the Board, Siddhartha Mohanty, Deputy Chairman of the Board and other Directors of the Board attended the meeting.

As of 31st July 2022, 7 Consultants have qualified for MDRT (compared to 11 Consultants qualified for MDRTs and 3 for COT during the previous year).