Life Insurance Corp. Of India · NSE:LICI
Life Insurance Corp. Of India — Life Insurance Corporation of India — 19th Annual Global Investor Conference (AGIC) 2023
81 slides from Life Insurance Corp. Of India's conference presentation, Aug 17, 2023
Slide 1: Schedule of Investors Meet intimation letter
Ref. No.: LIC/SE/2023-24/74 Date: August 17th, 2023 To, The Manager, The Manager, Listing Department, Listing Department, BSE Limited, The National Stock Exchange of India Ltd., th Phiroze Jeejeebhoy Tower, Exchange Plaza, 5 Floor, Plot C/1, Dalal Street, G Block, Bandra Kurla Complex, Mumbai-400001
Slide 2: Corporate Presentation
Corporate Presentation August 14th, 2023 1
Slide 3: Agenda
Agenda I - INTRODUCTION II - FINANCIAL AND BUSINESS HIGHLIGHTS III - PRODUCT, CUSTOMER FRANCHISE AND DISTRIBUTION REACH IV - ACTUARIAL METRICS V - TECHNOLOGICAL AND DIGITAL INITIATIVES VI - ESG INITIATIVES VII - WAY FORWARD APPENDIX (a) INDIAN INDUSTRY LANDSCAPE (b) FINANCIALS
Slide 4: I Introduction
I INTRODUCTION
Slide 5: An Illustrious Journey of 67 Years
An Illustrious Journey of 67 Years Sustained leadership position after 20+ years of liberalization of insurance sector with a 62.58% market share in NBP in FY231 Opening up May 2022 - India’s largest LIC continues to lead, LIC of India formed insurance sector to IPO ever; Globally 6th after 20+ year
Slide 6: Deeply entrenched into Bharat
Deeply entrenched into Bharat Extensive domestic distribution network… Assam Jammu & Arunachal Breakup of our Business State wise² Kashmir; Ladakh Pradesh Meghalaya Punjab Himachal Pradesh Chandigarh Uttarakhand Tripura Haryana Delhi Sikkim Uttar Pradesh Rajasthan Bihar Madhya Pradesh Jharkhand Guja
Slide 7: Unmatched Scale - Largest Life Insurer in India
Unmatched Scale - Largest Life Insurer in India Market leadership Scale Distribution & Customer ~2.04 crore 15.19 FY23 Individual policies sold ~ 2,32,015 crore ~13.47 mn FY23 NBP Agents (Mar-23) Policies sold per agent for FY23 #1 9.3x of 2nd largest life insurer3 INR 28,704 62.58% FY23 Market shar
Slide 8: LIC - A Leader with Deep Competitive Moats
LIC - A Leader with Deep Competitive Moats Customer Life- Unrivalled Focus on Strong financial & Strong risk Trusted brand Unmatched scale cycle product distribution investment track technology controls suite record ₹ Trusted brand India’s largest life Product mix that Presence across Deploying tech
Slide 9: Highly Experienced Management, Distinguished Board and Strong Corporate Governance framework
Highly Experienced Management, Distinguished Board and Strong Corporate Governance framework Shri Siddhartha Mohanty Dr. M. P. Tangirala Government Nominee Smt. Ipe Mini Shri M Jagannath Whole-time Chairperson Director Managing Director Managing Director Shri Tablesh Pandey Shri Sat Pal Bhanoo Dr. R
Slide 10: LIC – Group Structure
LIC – Group Structure Foreign branches1 Subsidiaries Associates Country Entity Country Entity Stake held (%) Country Entity Stake held (%) Fiji Branch 100.00% 45.24%3 Mauritius Branch 100.00% 5.38%3 United Kingdom Branch 99.66%2 49.24%4 Equity Participation 100.00% Country Entity Stake held (%) 29.8
Slide 11: Awards & Accolades
Awards & Accolades 10 Source: Corporation data
Slide 12: II Financial and Business Highlights
II FINANCIAL AND BUSINESS HIGHLIGHTS
Slide 13: Financial Performance FY 2022-23
Financial Performance FY 2022-23 Total Premium Income Individual New Business Premium Renewal Premium (Individual) FY23 INR 4,74,005 cr FY23 INR 58,757 cr FY23 INR 2,34,006 cr FY22 INR 4,27,419 cr FY22 INR 54,960 cr FY22 INR 2,21,661 cr +10.9% + 6.9% +5.6% Total APE Weighted Received Premium Total G
Slide 14: Financial Performance FY 2022-23
Financial Performance FY 2022-23 Commission Ratio Overall Expense Ratio Profit After Tax FY23 5.39% FY23 15.53% FY23 INR 36,397 cr 1 FY22 5.54% FY22 14.50% FY22 INR 4,043 cr -0.15% (Absolute) Assets Under Management Total Gross / Net NPA Ratio VNB (Gross) FY23 INR 43,97,205 cr FY23 2.56% / NIL FY23
Slide 15: Business performance parameters Q1FY24
Business performance parameters Q1FY24 Amount INR Crore Q1 FY24 INR 98,363Cr Q1 FY24 61.42 % Market Share in -4.0 % Total Premium Income + .01% Premium¹ (Absolute) Q1 FY23 INR 98,352 Cr Q1 FY23 65.42% Q1 FY24 INR 10,462 Cr Q1 FY24 INR 35,590 Cr Individual New Business Total Group Business -4.35% -7.
Slide 16: Business performance parameters Q1FY24
Business performance parameters Q1FY24 Amount INR Crore Q1 FY24 INR 6,321 Cr Q1 FY24 INR 1,00,400 Cr Weighted Received Total New Business Sum Premium -4.15 % Assured -16.29% Q1 FY23 INR 6,595 Cr Q1 FY23 INR 1,19,933 Cr Q1 FY24 1,88,080 Q1 FY24 INR 9,532 Cr Total Number of Death -7.19% Claims (Indivi
Slide 17: Financial performance parameters Q1FY24
Financial performance parameters Q1FY24 Amount INR Crore Q1 FY24 INR 9,543.71 Cr Q1 FY24 93.77% Profit After Tax¹ Claim Settlement Ratio +2.26% Q1 FY23 INR 682.88 Cr Death (Absolute) Q1 FY23 91.51% Q1 FY24 8.78% +1.04% Q1 FY24 1.89 +0.01 Yield on Investment Solvency (absolute) (Policyholders Fund)ˡ
Slide 18: Performance ratios Q1FY24
Performance ratios Q1FY24 Q1 FY24 13.7% +0.1% Q1 FY24 92.98% Total VNB Margin Net Conservation Ratio -5.01% Q1 FY23 13.6% (Absolute) Q1 FY23 97.99% (Absolute) Q1 FY24 2.48% Q1 FY24 0.00% -3.36% 0.00% Total Gross NPA Ratio¹ Total Net NPA Ratio¹ Q1 FY23 5.84% (absolute) Q1 FY23 0.00% (absolute) Q1 FY2
Slide 19: Focus on Increasing Share of Non-Par Products
Focus on Increasing Share of Non-Par Products Breakup of Individual New Business Breakup by premium (FY23) Breakup by no. of policies (FY23) Non- Par Non Par NB Particulars Non Par Non- Particulars share Par NBP share Par (# policy) Term 0.37 % Term 0.44 % Health Insurance 0.15% Health Insurance 1.1
Slide 20: Group business segment
Group business segment INR in Crore Group Market Share in Premium Group New Business Premium 100% 100% 90% 90% 80% 80% 70% 70% 60% 60% 50% 1,73,258 1,43,939 50% 76.65% 76.16% 40% 40% 30% 30% 20% 20% 10% 10% 0% 0% FY23 FY22 FY23 FY22 Growth – 20.37% YoY basis in Group new business premium. 19 Source:
Slide 21: Group business segment
Group business segment INR in Crore Market share (premium) New Business premium 100% 90% 80% 70% 60% 50% 72.50% 76.43% 34,398 37,284 40% 30% 20% 10% 0% Q1FY24 Q1FY23 Q1FY24 Q1FY23 Growth (–) 7.74% YoY basis in Group new business premium 20 Source: Corporation data as on 30.06.2023.
Slide 22: Share of women in policies issued
Share of women in policies issued Rising Share of women in policies sold¹ In 16 States/UTs, the share in number of policies bought by women to the total policies sold was higher than the all-India average of 34.7%² 45% 44% 42% 42% 41% 30% 30% 27% 26% 26% Out of the total 6,99,429 women agents, the s
Slide 23: Progress on various initiatives – FY23
Progress on various initiatives – FY23 Modification of Focus on Products for Increase in Non New Products Banca and increasing Par Business on Digital Initiatives Launch Alternate persistency APE basis Channel Individual business ANANDA 800000 ANANDA Individual share of Nonbusiness Par 10,00,000 Con
Slide 24: III Product, Customer Franchise and Distribution Reach
III PRODUCT, CUSTOMER FRANCHISE AND DISTRIBUTION REACH
Slide 25: Cross cyclical and comprehensive life insurance solutions
Cross cyclical and comprehensive life insurance solutions Comprehensive Product Portfolio 16 Participating products 20 Non Participating Products (Including three Annuity Products) 11 Group products (incl. one credit life and one annuity product)¹ 8 Riders LIC’s Group Post-Retirement Medical Benefit
Slide 26: Our Products Designed to Suit Customer Life Cycle
Our Products Designed to Suit Customer Life Cycle Participating Products Non-participating Products Product list is indicative and not exhaustive. 25
Slide 27: Enhancing focus on building Omni-channel distribution network
Enhancing focus on building Omni-channel distribution network Snapshot of LIC’s vast distribution capabilities Premium points +2,713 MICRO 13.43¹ lacs Agents exclusive to LIC 40,593³ Insurance Premium Points 1492 Corporate Agents 293 Brokers 125 Insurance Marketing Firms 36 Covering 92% districts vs
Slide 28: Enhancing focus on building Omni-channel distribution network
Enhancing focus on building Omni-channel distribution network Snapshot of LIC’s vast distribution capabilities Distribution mix by individual NBP (%) Individual NBP sourced in India via the banca 0.21% 0.16% and alternate channels (INR Crore) 336.4 0.15% 0.17% 2.66% 3.22% +15.80% 96.98% 96.45% 290.5
Slide 29: Feet on Street – LIC’s Core Distribution Strength
Feet on Street – LIC’s Core Distribution Strength Organizational Structure Agents Training Infrastructure CO 1.85% Employees Office 8 Zonal Training Centers 8 Zonal Office 3.06% Employees 35 Sales Training Centers 113 Divisional Office 14.38% Employees 113 Divisional Training Centers 2,048 Branch Of
Slide 30: Agents’ training
Agents’ training Training in Sales Training 20,527 Agents fulfilling the Training in External Centres and Zonal MDRT criteria¹ Training Institutes – 4,604 Training Centres – 2,93,182 Total 4,10,502 agents trained in 80% 76.81% Agents recruited within FY23 the 18-40 years age group Imparted training
Slide 31: Robust agency force
Robust agency force Largest agency force # Agents in lakh 13.47 12.81 12.09 Agent Age 10.70 ~73% agents >35 years Higher Vintage: 58% > 5 Years FY20 FY23 Others LIC LIC has dominant agency force – 50% plus of life insurance Industry. Source: Corporation data and life council data as on 30.06.2023; 3
Slide 32: Exclusive agency network well trained leading to highest productivity
Exclusive agency network well trained leading to highest productivity Loyal agency network with a mix of youth and experienced professionals Mix of agents by age group Mix of agents by tenure Above 60 yrs 70% 18-30 yrs More than 5 10% Years 15% 60% 58 % 51-60 yrs 31-35 yrs 20% 50% Up to 5 12% Years,
Slide 33: Differentiated business model with deep competitive moats
Differentiated business model with deep competitive moats Geographic distribution of individual agents (%) 53% 52% 52% 51% 50% 49% 48% 48% 47% 46% 45% Metropolitan, Urban Rural & Semi-urban PAN India presence of Agents which shows our feet on street Source Corporation data as on 30.06.2023 32
Slide 34: Customer care – at our core philosophy
Customer care – at our core philosophy Settled total death claims of Rs. 23,423 crore in FY23 as against Rs. 35,720 crore in FY22. Claim settlement ratio (Death) in FY23 is 98.52% by number as against 98.74% in FY22. The number of policyholders complaints per 10,000 policies sold in FY23 is 39
Slide 35: IV Actuarial Metrics
IV ACTUARIAL METRICS
Slide 36: Indian Embedded Value (IEV)
Indian Embedded Value (IEV) Embedded Value (INR Crore) 5,82,243 5,41,492 5,44,291 5,39,686 30th 30 Sept21¹ th Sept 21 31st Mar 22 30th Sept 22 31st Mar 23 Source: Corporation data,; Note 1. Milliman Report, IEV as on 30 Sep 2021 includes bifurcation impact of INR 3,74,172 crore. 35
Slide 37: Indian Embedded Value (IEV) walk — March 2022 to March 2023
Indian Embedded Value (IEV) walk — March 2022 to March 2023 5,41,492 Source: Corporation Data 9,156 41,577 6,090 2,060 __ -17,183 ® ° ga ow ot av ro «8 oe? 0 ow gor? ow oe oo ox so oo 5,82,243 -949 @ Increase ™ Decrease @ Total @ oe go ov 36
Slide 38: Build up of Embedded Value
Build up of Embedded Value INR in Crore Components March 2022 March 2023 A. Free surplus (FS) 10,527 36,403 B. Required Capital (RC) - 9,712 C. Adjusted Net Worth (ANW) (C=A+B) 10,527 46,115 D. Present value of future profits (PVFP) 5,47,724 5,53,480 E. Time Value of financial options and (2,076) (2
Slide 39: Analysis of movement in IEV
Analysis of movement in IEV Components FY 2023 (INR in Crore) Opening IEV 5,41,492 Expected return on Existing Business At Reference Rate 23,150 At Expected ‘real – world’ return in excess of Reference rate 18,427 Operating assumptions change 2,060 VoNB added during the period 9,156 Operating Experi
Slide 40: Sensitivity analysis
Sensitivity analysis Change in Indian Change in New Business Sensitivity – Scenarios Embedded Value Margin (Percent) For the Year End 3/2023 3/2023 Base results (INR in Crore) 5,82,243 16.2% Reference An increase of 100 bps in the reference rates (0.2%) 2.6% rates A decrease of 100 bps in the refere
Slide 41: Annualized Premium Equivalent (APE)
Annualized Premium Equivalent (APE) INR Crore Year on Year on Year Line of Business FY22 FY23 Year Q1FY23 Q1FY24 Growth Growth A Individual Par 33,040 35,231 6.63% 5,950 5,342 (-) 10.22% B Individual Non Par 2,532 3,436 35.70% 500 608 21.6% C Total Individual (A+B) 35,572 38,667 8.70% 6,450 5,950 (-
Slide 42: Focus on Increasing Share of Non-Par Products
Focus on Increasing Share of Non-Par Products Rising share of Non-Par in Individual APE1 Breakup of Individual APE (FY22) Breakup of Individual APE (FY23) Non- Par Non- Par 7.12% 8.89% 92.88% 91.11% Par Par Breakup of Individual APE (Q1FY23) Breakup of Individual APE (Q1FY24) Non- Par Non- Par 7.75%
Slide 43: Value of New Business (VNB)
Value of New Business (VNB) Amounts INR crore LIC of India Q1FY23 Q1FY24 Net VNB 1,397 1,302 Net VNB Margin 13.6% 13.7% Individual Business Group Business Q1FY23 Q1FY24 Q1FY23 Q1FY24 Net VNB 1,017 804 Net VNB 380 498 Net VNB Margin 15.8% 13.5% Net VNB Margin 10.0% 13.9% Par Business Non-Par Business
Slide 44: VNB Walk Q1FY23 to Q1FY24
VNB Walk Q1FY23 to Q1FY24 Source: Corporation Data 43
Slide 45: Improvement in Persistency Ratios
Improvement in Persistency Ratios Persistency ratios largely maintained despite increasing competition Persistency ratio by # policies 63.45% 64.28% 60.70% 56.97% 54.09% 56.90% 51.90% 51.05% 49.86% 49.86% 13th Month 25th Month 37th Month 49th Month 61st Month FY22 FY23 Uptick in persistency ratios b
Slide 46: Improvement in Persistency Ratios
Improvement in Persistency Ratios Persistency ratios largely maintained despite increasing competition 65.96% 66.15% Persistency ratio by # policies 61.79% 59.28% 55.25% 57.72% 52.98% 52.04% 51.23% 50.79% 13th Month 25th Month 37th Month 49th Month 61st Month Q1FY23 Q1FY24 Uptick in persistency rati
Slide 47: V Technological and Digital Initiatives
V TECHNOLOGICAL AND DIGITAL INITIATIVES
Slide 48: Strengthening Digital Process – Customer Service
Strengthening Digital Process – Customer Service Online service requests Loan payment and repayment 8 1 e-NACH2 7 PAYMENT RELATED Change of Nomination & POLICY RELATED Assignment 2 Unit Linked fund switch PAN1 data registration 6 3 NEFT3 registration Aadhaar based change of address 5 4 Change of Mod
Slide 49: Strengthening Digital Process – Driving Operational Efficiency
Strengthening Digital Process – Driving Operational Efficiency Increasing digital collection across channels (percentage to total policies) 27.01% 27.50% 25.58% 25.63% 24.92% Other App includes: 23.90% Amazon Pay ,Bajaj Finserv, CRED ,FreeCharge, GPay , InstaPay, JustDial, Mobikwik, PhonePe, Paytm 1
Slide 50: Strengthening Digital Process – Customer Service
Strengthening Digital Process – Customer Service Services offered Verified Automated conversation messages WhatsApp services started in Dec-22 and 1.80 crore customers opted/enabled until Streamlined June-23 Ease of customer interaction services Uptrend in LIC customer APP users Rising website regis
Slide 51: Strengthening Digital Process – Empowering Policyholders
#4 Strengthening Digital Process – Empowering Policyholders AI Chat Bot 1. Policy Status Application facilitate submission of 2. First Unpaid Premium date Digital existence certificate for LIC docQ Application helps user to 3. Last paid premium date individual pension plan and staff submit documents
Slide 52: Empowering policyholders and agents in a digital world
Empowering policyholders and agents in a digital world Source Corporation data 51
Slide 53: Technological innovations at LIC
Technological innovations at LIC Solutions designed to enhanced operational efficiency and respond with speed to specific situations Ananda APP – launched during COVID to enable Agents to do business without meeting customers Digital App for Agents to process New Business digitally face to face Key
Slide 54: Strengthening Digital Process – Driving Operational Efficiency
Strengthening Digital Process – Driving Operational Efficiency Print to Post Solution – Developed with Postal Department of India for Policy bond printing & deliveries Tracking of policy bond Dispatch of policy bond Undelivered policies return through speed post tracking through speed post to Branch
Slide 55: VI ESG Initiatives
VI ESG INITIATIVES
Slide 56: Embedding ESG in our business - building a sustainable future for the communities
Embedding ESG in our business - building a sustainable future for the communities LIC has integrated the SDGs with key areas of their business operations. LIC initiatives have ensured a positive contribution to at least 12 of the 17 SDGs Rural areas contributing 22.3% of individual policies sold an
Slide 57: Embedding ESG in our business - building a sustainable future for the communities
Embedding ESG in our business - building a sustainable future for the communities LIC has integrated the SDGs with key areas of their business operations. LIC initiatives have ensured a positive contribution to at least 12 of the 17 SDGs Support to various other sanitation projects by LIC GJF. C
Slide 58: Embedding ESG in our business - building a sustainable future for the communities
Embedding ESG in our business - building a sustainable future for the communities LIC has integrated the SDGs with key areas of their business operations. LIC initiatives have ensured a positive contribution to at least 12 of the 17 SDGs Investments in renewable energy worth INR 6980 croe in India
Slide 59: Committed to ESG initiatives across the organization
Committed to ESG initiatives across the organization Roof top solar capacity installed (KW) Total Reduction of carbon emissions (in tons) 4,574 4,471 3,914 3,826 3,376 2,966 3,141 2,856 2,254 2,051 2,024 1,812 FY 2019 FY 2020 FY 2021 FY 2022 FY2023 Q1FY24 FY 2019 FY 2020 FY 2021 FY 2022 FY2023 Q1FY2
Slide 60: VII Way Forward
VII WAY FORWARD
Slide 61: Strategy – Key Focus Areas
Strategy – Key Focus Areas #1I. Diversify Product Mix – Focus on enhancing Non Par Share. #2I. Launch New Products based not only on customer needs but also channel needs. #3I. Increase digital processes all across to drive higher efficiency. #4I. Create optimum mix of distribution channels while re
Slide 62: (a) Indian Industry Landscape
(a) INDIAN INDUSTRY LANDSCAPE 61
Slide 63: India is one of the fastest – growing major economy
India is one of the fastest – growing major economy (GDP growth, percentage year-on-year) 10 5 0 -5 -10 -15 2014 2015 2016 2017 2018 2019 2020 2021 2022P 2023P 2024P 2025P India 7.4 8 8.3 7 6.1 4.2 -8 9 9 7.1 6.3 6.2 China 7.3 6.9 6.8 6.9 6.7 6 2.3 8.1 4.8 5.2 5.2 5.1 Japan 0.4 1.2 0.5 2.2 0.3 0.3 -
Slide 64: Share of Life Insurance in incremental household financial saving
Share of Life Insurance in incremental household financial saving 120.00% 100.00% 12.30% 14.70% 13.40% 2.70% 1.90% 6.60% 80.00% 13.00% 12% 14.50% 18.70% 19.30% 60.00% 16.70% 16.80% 15.00% 40.00% 19.40% 20.00% 36.50% 36.60% 29.40% 0.00% FY 19 FY 20 FY 9M21 Bank Deposits Life Insurance Funds Provident
Slide 65: Protection gap for different countries
Protection gap for different countries 90% 83% 80% 76% 74% 71% 70% 70% 61% 60% 55% 55% 54% India’s protection 50% gap for India was 41% 83% as of 2019, the 40% highest among all countries in Asia- 30% Pacific¹ 20% 10% 0% India Indonesia Malaysia Thialand China Japan South Singapore Australia Hong Ko
Slide 66: Well Positioned to Ride the Growth in a Highly Underinsured Market
Life Insurance Penetration %age Insurance Density (in US$)* 25 10000 8983 9000 20 19.2 8000 7000 15 14 6000 5000 10 4000 7.6 6.4 5.8 3000 2329 2050 5 4 3.4 2000 3.2 1000 415 244 241 59 0 0 Hong Taiwan Singapore South Japan Malaysia Thailand India Hong Kong South Japan Malaysia Thailand China India K
Slide 67: Household saving to increase
Household saving to increase Household Savings (% of GDP) 30.00% Household 25.20% saving as 25.00% 23.60% 23.10% 23.60% percentage 22.40% 22.50% 22.20% 20.30% 20.30% of GDP 19.60% 19.30% 19.60% 20.00% 18.00% 18.10% rose to 22.2% in 15.00% fiscal 2021 10.00% 5.00% 0.00% FY08 FY09 FY10 FY11 FY12 FY13
Slide 68: Share of financial assets in overall savings to increase
Share of financial assets in overall savings to increase 25000 120% 22846 21780 21341 20564 100% 20000 80% 16147 14962 15000 60% 12572 11908 10640 10000 40% 20% 5000 0% FY1 FY1 FY1 FY1 FY1 FY1 FY1 FY1 FY2 2 3 4 5 6 7 8 9 0 0 Saving in Physical Assets 69% 67% 64% 64% 55% 59% 60% 63% 59% Trend in Gros
Slide 69: Share of Life Insurance in incremental household financial savings
Share of Life Insurance in incremental household financial savings 120.00% 100.00% COVID-19 HAS 80.00% Prompted people to become more inclined towards 60.00% saving and purchasing all – encompassing 40.00% life covers, which will likely 20.00% to increase demand for life insurance in 0.00% Life Insu
Slide 70: Increasing insurable population to fuel industry growth
Increasing insurable population to fuel industry growth India’s Demographic Dividend 120% 100% 7% 9% 10% 13% 80% 30% For 2021, India has 33% 37% largest share of young 40% population in the 60% world, with a medium 27% 28% age of 28 Years. About 40% 26% 90% of Indians will 24% still be below the age
Slide 71: Income demographics
Income demographics 120% 100% 80% 60% Rising Income level to make insurance 40% products more affordable. 20% 0% 2011-12E 2016-17E 2021-22P Rs. 1 million and above 1% 2% 3% Rs. 0.5 to 1 million 2% 2% 4% Rs.0.2 to 0.5 million 14% 19% 28% Below 0.2 million 83% 76% 65% Below 0.2 million Rs.0.2 to 0.5 m
Slide 72: Strong growth in total premium for life insurance industry
Strong growth in total premium for life insurance industry 7000 CAGR 11% 16% 6287 14% 14% 6000 5729 13% Total premium 12% 5081 12% has grown at 11% 5000 4588 11% CAGR in last five 4185 10% 10% years ending 10% 4000 FY21. Amongst 3669 the different 8% player groups, 3000 LIC, which holds 6% the maxim
Slide 73: Projected growth in total premium over next five years
Projected growth in total premium over next five years 14000 INR Billion 12408 12000 10988 10000 9704 Insurers to grow at 14-15% CAGR 8294 8000 over the next five 7254 years. 6287 Consequently , 6000 5729 the total premium 5081 is expected to 4588 4185 grow by 2 times. 4000 3669 2000 0 FY16 FY17 FY1
Slide 74: (b) Financials
(b) FINANCIALS
Slide 75: Financials - Standalone Balance Sheet
Financials - Standalone Balance Sheet (INR lakhs) For the Year ended For the three Months ended Particulars March 31, 2022(Standalone) March 31, 2023(Standalone) June 30, 2022(Standalone) June 30, 2023(Standalone) Sources of funds Shareholders' funds: Share capital 6,32,499.77 6,32,499.77 6,32,499.7
Slide 76: Financials - Standalone Statement of Revenue (Policyholders’ Account)
Financials - Standalone Statement of Revenue (Policyholders’ Account) (INR lakhs) For the year ended For the three Months ended Particulars March 31, 2022(Standalone) March 31, 2023(Standalone) June 30, 2022(Standalone) June 30, 2023(Standalone) Premiums earned - net (a) Premium 4,28,02,497.15 4,74,
Slide 77: Financials – Standalone Statement of Profit & Loss (Shareholders’ Account)
Financials – Standalone Statement of Profit & Loss (Shareholders’ Account) (INR lakhs) For the year ended For the three Months ended Particulars March 31, 2022(Standalone) March 31, 2023(Standalone) June 30, 2022(Standalone) June 30, 2023(Standalone) Amounts transferred from/to the 12,19,345.85 36,0
Slide 78: Glossary
Glossary New Business APE: The sum annualized first year premiums on regular premium policies, and 10.00% of single premiums, written by the Company during the fiscal year from both retail and group customers. New Business Premium NBP: Insurance premium that is due in the first policy year of a li
Slide 79: Abbreviation
Abbreviation Term Description Term Description GWP Gross Written Premium Opex Operating Expenses (excluding commission NBP New Business Premium CAGR Compounded Annual Growth Rate NOP Number of Policies GDP Gross Domestic Product APE Annualized Premium Equivalent INR (Rs.) Indian Rupees IRP Individua
Slide 80: Disclaimer
Disclaimer Except for the historical information contained herein, statements in this presentation which contain words or phrases such as ‘will’, ‘would’, ‘indicating’, ‘expected to’ etc., and similar expressions or variations of such expressions may constitute ‘forward-looking statements’. These fo
Slide 81: Thank You
THANK YOU Investor Relations Contact: Life Insurance Corporation of India Yogakshema, Third Floor, West Wing, Jeevan Bima Marg, Nariman Point, Mumbai- 400021. Contact # +91 66599401 Email - investorrelations@licindia.com Website – www.licindia.in
Life Insurance Corporation of India — 19th Annual Global Investor Conference (AGIC) 2023 on 6ix