LIC increases asset quality ahead of its IPO, lowering net non-performing assets (NPA) to 0.05 per cent.

Insurance giant LIC has enhanced its asset quality for the financial year ended March 2021, ahead of its proposed initial public offering (IPO). According to the current Annual Report of Life Insurance Corporation of India, non-performing assets (NPAs) were Rs 35,129.89 crore as of March 31, 2021, out of a total portfolio of Rs 4,51,303.30 crore (LIC).

At the end of March 2021, total nonperforming assets were 7.78%, whilst net nonperforming assets were 0.05%. This compares to gross nonperforming assets (NPAs) of 8.17 per cent and net nonperforming assets (NPAs) of 0.79 per cent the previous year.