New Delhi: LIC assets at $463 billion exceed the GDP of several economies, and it is ranked 5th globally in terms of life insurance GWP and 10th globally in terms of total assets.

Its assets are 1.1 times more than the entire Indian MF industry i.e. Rs 31.4 trillion (till March 31, 2021).

LIC's assets are 16.3 times the AUM of the second-largest private insurer in India, i.e. SBI Life. 4 percent of the total NSE market cap is held by LIC.

LIC is the largest asset manager in India with Rs 36.7 trillion AUM. LIC'S AUM on a standalone basis was equal to 18 percent of India's GDP for FY21.

It has been providing life insurance in India for more than 65 years and is the largest life insurer in India in terms of Gross Written Premium (GWP) with a market share of 64.1 percent, New Business Premium (NBP) with a market share of 66.2 percent, number of individual policies issued with a market share of 74.6 percent and number of group policies issue with a market share of 81.1 percent for fiscal 2021.

LIC is ranked 5th globally in terms of life insurance GWP and 10th globally in terms of total assets (comparing LIC's assets as of March 31, 2021, with other life insurers' assets as of December 31, 2020).

LIC is the largest asset manager in India as of March 31, 2021, with an AUM (comprising policyholders' investment, shareholders' investment, and assets held to cover linked liabilities) of approximately Rs 36.7 trillion
on a standalone basis.

LIC's investment inequities in India as of September 30, 2021, represented 7.62 percent of the outstanding (non-promoter market cap in India).

As of September 30, 2021, LIC's individual products portfolio in India comprised 32 individual products and seven individual riders/and its group product portfolio in India comprised 10 group products, which included one group of microinsurance products.

In Fiscal 2019, Fiscal 2020, Fiscal 2021, and the six months ended September 30, 2021, our individual agents were responsible for sourcing 95.81 percent, 94.74 percent, 93.80 percent, and 96,82 percent of LIC's NBP for its products on a standalone basis, respectively For Fiscal 2021, LIC issued approximately 21 million individual policies, representing a 74.6 percent market share in new individual policy issuances.

For Fiscal 2021, LIC's market share in the Indian Life Insurance Industry was 66.2 percent based on NBP, and its NBP was 1.96 times the total private life instance sector and 8.9 times the NBP for the second-largest player in the Indian Life Insurance Industry.

The NBP of the Indian Life Insurance is expected to grow at a CAGR of approximately 18 percent from Fiscal 2021 to Fiscal 2026 for individual business as compared to a CAGR of 17 pe in group business over the same period.

CRISIL Research forecasts that the elderly population (aged 60 and above) in India will increase from 116.8 million in 2015 to 316.8 million in 2050 and the share of elderly in India's population will almost double from 9 percent in 2015 to 17 percent by 2050, which will result in an increase in demand for pension/annuity products.

Brand LIC was recognized as the third strongest and 10th most valuable global insurance brand in 2021, as per the "Insurance 100 2021 report" released by Brand Finance.

As per the report, the brand value of LIC in 2021 is US$8,655 million with a brand strength index (BSI) score of 84.1 in 2021 out of 100 with a corresponding AAA-brand strength rating.

The strength of brand LIC is further evidenced by it being recognized as WPP Brands' second most valuable Indian Brand in 2019 and 2020.