JAITLEY-LIC 2 LAST (BCM30)

LIC’s exposure to the Central and State government LIC’s exposure to the Central and State governmentsecurities stood at Rs 12,42,632 crore the year to March 2016,housing exposure at Rs 70,302 crore, power sector at Rs1,20,558 crore, irrigation/water supply & sewerage at Rs2,319 crore and ports/bridges at Rs 1,324 crore. The Corporation, as of March 2016, had only 0.028 per centof unsettled claims, out of its total number of policies of29.02 crore and over 12 lakh group covers. For FY16, it settled Rs 85,520 crore in claims from 208.85lakh policies. In FY15 and FY14, the figures stood at Rs80,610.45 crore (226.57 lakh policyholders) and Rs 83,730crore (250.54 lakh policyholders), respectively. For the year to March, insurance behemoth’s contributionto Government through surplus and taxes stood Rs 2,501.75crore (surplus) against Rs 1,803.05 crore in FY15, income taxcontribution at Rs 4,753 crore against Rs 3,698 crore andservice tax contribution of Rs 3,167 crore against Rs 2,949crore in FY15. PTI BEN RSYABKRDS