Summary

• Page properties (1 modified, 0 added, 0 removed)

Details

Page properties

Content

...	...	@@ -100,7 +100,7 @@
100	100	LIC has been providing life insurance in India for more than 65 years and is the largest life insurer in India, with a 64.1% market share in terms of premiums (or GWP), a 66.2% market share in terms of New Business Premium (or NBP), a 74.6% market share in terms of number of individual policies issued, a 81.1% market share in terms of number of group policies issued for Fiscal 2021, as well as by the number of individual agents, which comprised 55% of all individual agents in India as at March 31, 2021. LIC had the highest gap in market share by life insurance GWP relative to the second-largest life insurer in India as compared to the market leaders in the top seven markets globally (in 2020 for the other players and in Fiscal 2021 for LIC). (Source: the CRISIL Report). According to CRISIL, this is owing to its enormous agent network, strong track record, immense trust in the brand ‘LIC’ and LIC’s 65 years of lineage. LIC is ranked fifth globally by life insurance GWP (comparing LIC’s life insurance premium for Fiscal 2021 to its global peers’ life insurance premium for 2020) and 10th globally in terms of total assets (comparing LIC’s assets as at March 31, 2021 with other life insurers’ assets as at December 31, 2020).
101	101
102	102
103		-LIC is the largest asset manager in India as at September 30, 2021, with AUM (comprising policyholders’ investment, shareholders’ investment and assets held to cover linked liabilities) of ₹39,558,929.24 million on a standalone basis, which was (i) more than 3.3 times the total AUM of all private life insurers in India, (ii) approximately 16.2 times more than the AUM of the second-largest player in the Indian life insurance industry in terms of AUM, (iii) more than 1.1 times the entire Indian mutual fund industry’s AUM and (iv) 18.5% of India’s annualised GDP for Fiscal 2022. As per the CRISIL Report, as at September 30, 2021, LIC’s investments in listed equity represented around 4% of the total market capitalisation of NSE as at that date.
	103	+LIC is the largest asset manager in India as at September 30, 2021, with AUM (comprising policyholders’ investment, shareholders’ investment and assets held to cover linked liabilities) of ₹39,558,929.24 million on a standalone basis, which was (1) more than 3.3 times the total AUM of all private life insurers in India, (2) approximately 16.2 times more than the AUM of the second-largest player in the Indian life insurance industry in terms of AUM, (3) more than 1.1 times the entire Indian mutual fund industry’s AUM and (4) 18.5% of India’s annualised GDP for Fiscal 2022. As per the CRISIL Report, as at September 30, 2021, LIC’s investments in listed equity represented around 4% of the total market capitalisation of NSE as at that date.
104	104
105	105
106	106	LIC dominant in group insurance with approximately 80% market share In terms of segments, the share of group NBP in total NBP has increased from 58% in Fiscal 2016 to 62% in September 30, 2021. LIC continues to dominate the group NBP segment with 78% market share for Fiscal 2021. On the other hand, private players have increased their market share in individual NBP from 44% in Fiscal 2016 to 50% in Fiscal 2021 and further to 56% in September 30, 2021 Customers can also approach its branch offices and satellite offices and purchase products through its intermediaries. As at September 30, 2021, LIC had 2,048 branch offices and 1,554 satellite offices in India.