LIC refutes news, terms it malicious campaign

Excelsior Correspondent
JAMMU, Oct 9: Taking cognizance of some reports appearing on social media with regard to financial health of the Life Insurance Corporation (LIC), the company management has termed it as false, fabricated and malicious campaign by some miscreants against the organization.
“Over the past few days some miscreants have been spreading false information and malicious rumours about LIC on WhatsApp and other social media platforms. The messages wrongly speculate about LIC’s financial health and attempt to portray the largest Life Insurer in poor light in the eyes of its stakeholders. These news are factually incorrect, uncorroborated and intend to tarnish the image of LIC brand and also create panic in the minds of its policyholders,” a Company spokesman said.
“LIC refutes such false rumours and would like to assure its policyholders about its sound financial health and urges them not to take cognizance of such misleading news. In fact, LIC has declared the highest ever bonus amounting to more than Rs 50000 crores to its policy holders for the fiscal 2018-19. LIC’s market share as on Aug 31, 2019 for number of policies is 72.84% and for first year premium it is 73.06%. It is pertinent to note that LIC’s market share in first year premium has grown from 66.24% as on March 31, 2019 to 73.06% as on Aug 31, 2019,” the spokesman added.