LIC had the highest gap in market share by life insurance GWP relative to the secondlargest life insurer in India as compared to the market leaders in the top seven markets globally. According to RHP, this is due to the enormous agent network, strong track record, immense trust in the brand ‘LIC’ and its 65 years of lineage. LIC is ranked 5th globally by life insurance GWP and 10th globally in terms of total assets.
Life Insurance Corporation of India Ltd. is India’s largest life insurer, with a 61.6 percent market share in terms of premiums (or GWP), a 61.4 percent market share in terms of New Business Premium (or NBP), a 71.8 percent market share in terms of number of individual policies issued, and an 88.8 percent market share in terms of number of gro.
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At the upper price band, the stock is priced at 1.1x of its 2QFY22 Indian Embedded value (Market capitalization/Embedded value: ₹6 trillion/₹5.39 trillion), which is at a significant discount to its listed peers. Currently listed insurance companies trade at Market capitalization/EV multiple of ~2.8x. LIC has a marquee anchor list of investors and we recommend SUBSCRIBE to the LIC IPO.
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