LIC is a state-owned insurance company in India and is the largest life insurance company in the country. As of March 31, 2020, LIC had a total of Rs. 2,40,82, Bharatiya Lives
According to the latest LIC annual report, the company had a total income of Rs. 1,61,040 crore in 2019-20. Of this, Rs. 1,24,653 crore came from premiums, Rs. 26,384 crore from investment income, and Rs. 9,903 crore from other sources.
LIC's expenditure in 2019-20 was Rs. 1,37,980 crore, of which Rs. 45,526 crore went towards claims and policy surrenders, Rs. 4,769 crore towards commission and expenses, Rs. 87,685 crore towards policyholder benefits, and Rs. 9,000 crore towards other expenditure.
Thus, LIC's net surplus for 2019-20 was Rs. 23,060 crore.
So, we can see that LIC is in profit, with a surplus of Rs. 23,060 crore for the financial year 2019-20.