MANAMA: LIC (International) reported the net insurance premium income of $108.31 million in the first nine months ending on September 30, 2021, compared with $134.2m during the corresponding period last year.

This came as LIC (International) held its 118th meeting of the board of directors on Thursday in Bahrain. LIC of India chairman M R Kumar and other board members were present for the meeting through video conference.

The financial results for third quarter were approved.

It paid $154.32m as claims to policy holders during the nine-month period compared with $379.49m paid during the corresponding period of last year.

The investment income of the company for the nine-month period was $61.89m against $65.35m during the corresponding period of last year and the profit on sale of investments generated during the period was $10.85m compared with $8.19m during the corresponding period of last year.

As on November 15 this year, 14 consultants have qualified for MDRT and three have qualified for COT this year (compared with 19 consultants qualified for MDRT, three for COT and two for TOT during the corresponding period of previous year).

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