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FINANCIAL NEWS
Bahrain’s LIC posts 16.43% climb in 2012’s investments to USD760.21m
23 May 2013
(MENAFN) Bahrain’s LIC (International) CEO and managing director, R Thamodharan, announced that the insurer’s total investments jumped by 16.43 percent in 2012 to USD760.21 million, reported Gulf Daily News.
Thamodharan added that in the year, income from investments reached USD47.2 million.
He said that the firm, a subsidiary of LIC of India, launched a new product in 2012, bringing premium of USD25.42 million.
The CEO also said that 2012 witnessed a rise of 23 percent in premium income, issuing 9,801 policies with sum assured of USD116.19 million.
Furthermore, LIC paid USD27.06 million to policyholders by way of claims.
It is worthy noting that the firm’s total investments in 2011 stood at USD652.91 million.
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