According to a report released by Crisil, LIC’s share in gross retail premium was 64.1% till the year 2020. Whereas the company is giving 82% return in Return on Assets (RoE).
Along with this, LIC is the third largest company in the world in terms of life insurance premium. That is, the country’s largest insurance company LIC (Life Insurance Corporation) is not only the world’s largest company in home-market share, but also the company number-1 in Return on Assets.
LIC IPO: LIC is preparing vigorously to bring its IPO in the stock market. It is likely that the IPO will come by March. Meanwhile, Crisil has issued a report regarding the returns of the company. ,
According to the report, the country’s largest insurance company LIC (Life Insurance Corporation) is not only the world’s largest company in home-market share but also the company number-1 in Return on Assets.
As of the year 2020, LIC’s share in the gross retail premium was 64.1%. Whereas the company is giving 82% return in Return on Assets (RoE). Along with this, LIC is the third largest company in the world in terms of life insurance premium.
Market Share Declines
Although LIC’s market share is decreasing in the last few years. Before 2000, the company’s market share was around 100%. By the year 2016, it has come down to 71.8% and by 2020 it has come down to 64.1%. By the way, the market share of SBI Life has increased during this period.
SBI Life’s market share increased
SBI Life is the second largest insurance company in the country. According to Crisil’s report, SBI Life’s stake was only 5% in 2016, which has increased to 8% in 2020. CRISIL prepared this report in November 2021 but it could not be made public then.
LIC’s Gross Retail Premium (GWP) is 64.1% i.e. $56.405 billion. According to the report, no insurance company in the world has such a market share.
Let us tell you that the Indian company LIC is also included in the top 10 insurance companies of the world .
5 insurance companies in this list are from China, with Ping being the most valuable insurance brand in the world. At the same time, two companies from America and one company each from France, Germany and India are involved.
LIC, which is going to be India’s biggest share seller, is the country’s strongest and largest brand with a valuation of $ 8.656 billion (about Rs 64,722 crore). Along with this, it is also the third strongest insurance brand in the world, according to a report.
