Showing posts with the label individual death claim

IRDA Claim settlement ratio 2018

IRDA Claim settlement ratio 2018 The Second Wednesday of this month (09-01-2019), Insurance Regulatory and Development Authority of India (IRDAI) declared its annual report for the year 2018 (2017-18) in the official website. Again the LIC India (Life Insurance Corporation of India) leads in the top on Individual Death Claim Settlement section. The Only Public Life Insurance and the largest insurance company in India is LIC India, it has an estimated asset value of more than US$ 350 Billion. LIC India had a value of 98.04 Percent in the Individual Death Claim Settlement Ratio. From the all private insurance companies, the individual death claim settlement ratio stood at 95.24 percent. The Total Insurance rate for all insurers is 97.68 percent on Claim Settlement. LIC Stands with a net profit of Rs. 2446 Crore in the year of 2017-18. Previously it was seen in the year 2016-17, with net profit of Rs. 2231 Crore. The Company's (LIC India) revenue has increased in the last year, but it