LIC Share Price Target 2024-2030 Fundamentals & Quarterly Results

Lic Share Price Target 2024, 2025, 2026, 2027, 2028, 2029, 2030 Fundamentals & Quarterly Results– LIC India is often referred to as Life Insurance Corporation for India because it is an insurance company in India that deals with aids or help concerning life issues. At the time when it was taken over by the state the princely company was nationalized in 1956. It was previously known as the Oriental Life Insurance Company, established in Kolkata by Bipin Das Gupta 1818. Over 60% of this type of insurance policy belongs to them.

Latest Update – On August 8, the Life Insurance Corporation of India, which is owned by the government, made known that its consolidated net profit for the quarter that ended on June 30, 2024 went up by 9 percent to reach Rs 10,544 crore. In the same period last year, it had declared a consolidated net profit of Rs 9,635 crore.

LIC Overview

Life Insurance Corporation of India (LIC ) is a market leader in insurance in India that provides life insurance services. LIC has a market share of more than 66.2 % in new premium. The Company provides with participating insurance products and non-participating products which include ULP, saving plans term plans health plans as well as annuity and retirement products.

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LIC Business Profile

LIC, owned by \ Government of India, is India’s largest life insurance company with a history of over 65 years and a 61.6% market share in terms of premiums, 61.4% in New Business Premium, 71.8% in a number of individual policies issued, 88.8% in a number of group policies issued for 9MFY2022.

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In terms of total assets, LIC is ranked tenth globally among the biggest insurance companies and its life insurance GWP ranks fifth. In December 2021, its AUM was Rs 40.1 lakh crore making it the largest asset manager in India, representing 17.0% of India’s GDP. Its holdings in listed equities were approximately 4% of the aggregate market cap on NSE and it owned more government securities compared to RBI.

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History

The merger and nationalization of 245 private life insurance companies in India on September 1, 1956, led to the establishment of LIC. Before 2000, India’s domestic life insurance sector was dominated by LIC which among others led to its classification as a Domestic Systemically Important Insurer (D-SII) by the IRDAI. According to the 2021 Brand Finance’s ‘Insurance 100’ report, LIC is the 10th most valuable and third strongest among all global insurance brands today; this makes them an icon of sorts for Indian insurance firms.

The Life Insurance Corporation works through 2048 Flying Squad Branch, 870 Bo Divisional Office, and 1,554 Satellite Offices. At a global level, these services can be accessed from countries such as: Fiji, Mauritius, Bangladesh, Nepal, Singapore, Sri Lanka, UAE, Bahrain, Qatar, Kuwait, and the United Kingdom. With an exterior collection in my foreign exchange year or (FY) servant representing only 0.69% during that time last year.

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Product

The product range of LIC covers many sections, it is well-diversified, and there are different individual and group products in the product mix. In India, the company had 32 single premium policies as at March 31, 2017; it included seven individual options. There were also 11 other kinds of group-based coverage.

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The an entirely each omnichannel stands for all’ side organization System of Agent, Bancassurance Partners or Alternate Channels (Corporate Agents, Brokers or Insurance Marketing Firms), Digital Sales (via a portal on the Corporation’s website), Micro Insurance Agents and Point of Salespersons-Life Insurance Scheme are made up of LIC .

Distribution Network

LIC holds the biggest personal agent system between life insurance in India. By the end of December 2021, there were about 1.33 million personal agents. In India, there are also 2048 offices and 1559 branch offices. This covers 91% of all the districts in India.

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Private insurers are giving LIC a run for their money as LIC registers poor new policy growth, thereby losing market share to private insurance players. LIC increased India’s total premium by a CAGR of 9%, while the total premium for private sector players in the life insurance industry increased at a CAGR of 18% between FY2016 to FY2021.

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LIC Fundamentals & Quarterly Results

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LIC Quarterly Results

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CAGR Report

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LIC Shareholding Pattern

LIC Share Price Target 2024-2030 Forecast

LIC Share Price Target 2025

LIC Share Price Target 2026

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LIC Share Price Target 2028

LIC Share Price Target 2029

LIC Share Price Target 2030

Official Website –licindia.in