LIC Q1 profit surges 23% on growth in value of new business

Life Insurance Corporation of India reported a twenty-three percent net profit rise. Value of new business jumped sixty-one percent, boosting profitability margins significantly. Diversification into non-participating savings and protection products aided this strong performance. The insurer's solvency ratio strengthened, and assets under management also increased. Government's recent offer for sale was well received by the market.