05/08/2024
🚀 LIC Leads the Pack with Outstanding Returns! 🚀
📈 In the past year, Life Insurance Corporation (LIC) has outshined the top 10 companies by market capitalization, delivering a whopping 74% return! 🌟
🏅 While LIC isn’t part of the Sensex, it comfortably beat market giants like Reliance Industries Ltd (10% gain) and Bharti Airtel (68.2% gain).
💼 Other notable performers:
State Bank of India (47.64%)
ICICI Bank (28.19%)
TCS (24.76%)
Infosys (22.61%)
Hindustan Unilever Ltd (1.99%)
🔝 Dominating the Indian life insurance sector, LIC boasts a 58.87% market share in first-year premium income as of March 2024. With assets under management of Rs 51.21 lakh crore, the company continues to focus on strategic interventions to maximize market share and stakeholder value.
💪 In 4th Quarter, LIC reported a net profit of Rs 13,782 crore, up 4.5% YoY. The total premium income for FY24 reached Rs 4.75 lakh crore, with individual business premium at Rs 3.03 lakh crore. The Value of New Business (VNB) grew by 5% YoY to Rs 9,583 crore, with a net VNB margin increase of 60 bps to 16.80.
📈 LIC is also planning to acquire a standalone health insurance company to further expand its market presence.
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