INSUBCONTINENT EXCLUSIVE:
LIC has actually improved its property quality ahead of the anticipated IPOAs insurance leviathan Life Insurance Corporation of India (LIC)
prepares for its initial public deal (IPO), anticipated towards completion of this fiscal, the company has actually improved its asset
LIC's non-performing assets (NPAs) as on March 31, 2021 were Rs 35,129 crore out of a total portfolio size of Rs 4,51,303 crore, its
yearly report said.The sub-standard assets are Rs 254.37 crore whereas the skeptical possessions are Rs 20,369.17 crore and loss assets are
A quantity of Rs 34,934.97 crore is provided based on IRDAI guidelines in the books of accounts towards non-performing properties, it
said.The portion of gross NPA is 7.78 per cent while the net NPA is 0.05 per cent at the end of March 2021
This is lower than gross NPA of 8.17 per cent (as a percentage of its financial obligation portfolio) and net NPA of 0.79 percent in the
The management has examined the possession quality and performance of investments in regard of property, loans, investments, other set
possessions etc and sufficient arrangement for impairment/diminution in worth of investments/assets have actually been attended to wherever
necessary, the yearly report said.In absolute terms, the NPA was Rs 36,694.20 crore out of a total debt of Rs 4,49,364.87 crore in 2019-20
The corporation has actually made provisions to the tune of Rs 37,341.6 crore, of which Rs 34,934.97 crore is towards doubtful,
sub-standard, and loss assets.The government earlier this year amended the Life Insurance coverage Corporation Act, 1956, to facilitate the
listing of LIC.According to the change, the main federal government will hold 75 percent in the LIC for the very first five years after the
IPO and then it will consequently hold at least 51 per cent at all times after 5 years of its listing
The federal government currently totally owns LIC.
