India's largest life insurer, the state owned Life Insurance Corporation (LIC) has posted a 13.46% increase in first year premium (FYP) income to a record INR1,345.5 billion (US$20.2 billion), for the financial year ended 31 March 2018.
Its market share in terms of FYP stood at 69.4%.
LIC has a network of eight zonal and 112 divisional offices. Among the zones, LIC said that west zone was the leader with INR90 billion in FYP last year.
All the zones recorded growth in FYP with the north central zone registering the highest growth rate of 23.5%.