State-run insurer Life Insurance Corporation of India (LIC) on Thursday said its embedded value stood at Rs 5,41,492 crore at the end of March this year compared to Rs 95,605 crore in the year-ago period, according to news release by the company.
At the end of September 2021, the Indian Embedded Value (IEV) stood at Rs 5,39,686 crore at the end of September 2021. The embedded value is a measure of the consolidated value of shareholders' interest in the life insurance business.
The IEV as of September 30, 2021 was significantly higher than the IEV of March 2021 due to the bifurcation of funds that was carried out by LIC following changes in the LIC Act during the FY21-22, the insurer said in a release.
The Value of New Business (VNB) for the year ended March 2022 has been determined at Rs 7,619 crore as compared to Rs 4,167 crore for the year ended March 2021.
For the year ended March 2022, the VNB margin was 15.1 per cent as compared to 9.9 per cent in the same period a year ago.
The VNB for year ended March 31, 2022 has been determined to be Rs 7,619 crore as compared to Rs 4,167 crore for the year ended March 31, 2021. Also, the VNB for the six-month period ended September 30, 2021 was Rs 1,583 crore. The VNB margin, for the year ended March 31, 2022 is 15.1 per cent as compared to VNB margin of 9.9 per cent for the year ended March 31, 2021.
The shares of LIC closed at Rs 712.15, down 0.95 per cent on the BSE on Thursday.