Life Insurance Corp. Of India · NSE:LICI
Life Insurance Corp. Of India — Life Insurance Corporation of India — Q3 FY2023 Earnings Presentation
72 slides from Life Insurance Corp. Of India's earnings presentation, Feb 9, 2023
Slide 1: Stock exchange cover letter for analyst call presentation
Ref. No.: LIC/SE/2022-23/146 Date: February 09th, 2023 To, The Manager The Manager Listing Department Listing Department BSE Limited The National Stock Exchange of IndiaLtd. th Phiroze Jeejeebhoy Tower Exchange Plaza, 5 Floor, Plot C/1, Dalal Street G Block, Bandra Kurla Complex Mumbai-400001 Mumbai
Slide 2: Performance Updates Q3: FY 2023
Performance Updates Q3: FY 2023 February 09, 2023
Slide 3: Agenda
Agenda INTRODUCTION TO LIC INTRODUCTION TO LIC BUSINESS AND FINANCIAL UPDATES 9MFY23 BUSINESS AND FINANCIAL UPDATES 9MFY23 ACTUARIAL UPDATES ACTUARIAL UPDATES MARKETING AND DISTRIBUTION STRENGTHS MARKETING AND DISTRIBUTION STRENGTHS ACHIEVING OPERATIONAL EFFICIENCY ACHIEVING OPERATIONAL EFFICIENCY K
Slide 4: Introduction to LIC
errr re Thi errr tth Lee i pias va!
Slide 5: Largest life insurer in India with a long legacy and trust built over the years
Largest life insurer in India with a long legacy and trust built over the years 2nd most valuable brand in India1 Top-ranked Indian Firm on latest Fortune Global 500 list – Ranked 98th 10th most valuable insurance brand globally in 20212 3rd strongest insurance brand globally2 US$ 8,655 mn brand val
Slide 6: Our products designed to suit customer life cycle
Our products designed to suit customer life cycle Participating Products Non-participating Products Source: Corporation data, Product list indicative and not exhaustive. 5
Slide 7: Progress on various initiatives – 9M FY23
Progress on various initiatives – 9M FY23 Modification of Focus on Products for Increase in Non Banca and New Products Par Business on Launch increasing Alternate Digital Initiatives persistency APE basis Channel Individual business ANANDA Individual business 800000 800000 ANANDA share of Non Par sh
Slide 8: Cross cyclical and comprehensive life insurance solutions
Cross cyclical and comprehensive life insurance solutions Comprehensive Product Portfolio 16 Participating products 19 Non-Participating Products (Including three Annuity Products)² 10 Group products (incl. one credit life and one annuity product)¹ 8 Riders LIC’s Bima Ratna, LIC’s Dhan Sanchay, LIC’
Slide 9: New products launched in FY23 till December 31st 2022
New products launched in FY23 till December 31ST 2022 LIC’s Bima Name of Ratna LIC’s Dhan LIC’s Pension LIC's Dhan LIC’s New Tech LIC's New Jeevan Products Sanchay Plus Varsha Term Amar Introduction date 27.05.2022 14.06.2022 05.09.2022 17.10.2022 23.11.2022 23.11.2022 Par/Non Par Non-Par Non-Par No
Slide 10: Business and Financial Updates 9MFY23
2 BUSINESS AND FINANCIAL UPDATES 9MFY23
Slide 11: Highlights of Q3 FY23
Highlights of Q3 FY23 Key Performance Drivers INR in Crore Financial Performance (INR in crore) 60000 Particulars Sept 30, 2022 Dec 31 2022 Growth 50,390 50000 Total Premium Income 1,32,104 1,11,788 (15.38%) 42,170 40000 37,545 Total Renewal Premium 56,156 60,195 7.19% 30000 25,228 Expenses of Manag
Slide 12: Business performance parameters
Business performance parameters INR in Crore 9M -FY 23 INR 3,42,244 Cr 9M -FY 23 65.38% Market Share in +3.98% Total Premium Income +20.65% 9M -FY 22 INR 2,83,673 Cr Premium¹ 9M -FY 22 61.40% (Absolute) 9M -FY 23 INR 38,828 Cr 9M -FY 23 INR 1,41,815 Cr Individual New Business Total Group Business Pr
Slide 13: Business performance parameters
Business performance parameters INR in Crore 9M-FY 23 INR 23,255 Cr 9M-FY 23 INR 4,27,211 Cr Weighted Received Total New Business Sum + 11.72% Assured +9.44% Premium 9M-FY 22 INR 20,816 Cr 9M-FY 22 INR 3,90,346 Cr 9M-FY 23 INR 481.98 Cr 9M-FY 23 INR 37,545 Cr Total COVID 19 Claims +48.82% Paid -65.5
Slide 14: Financial performance parameters
Financial performance parameters INR in Crore 9M-FY 23 Rs. 22,970 Cr ₂ 9M-FY 23 INR 45,61,347 Cr Profit After Tax +1273.80% Total Assets +10.24 % 9M-FY 22 Rs. 1,672 Cr 9M-FY 22 INR 41,37,627 Cr 9M-FY 23 INR 5,478 Cr 9M-FY 23 1.85 Value of New Business Solvency +0.08 (Net) H1-FY 23 INR 3,677 Cr +48.9
Slide 15: Performance ratios
Performance ratios VNB Margin Net 9M-FY 23 11.0% 9M-FY 23 92.76% Conservation Ratio (Individual Par) ¹ H1-FY 23 10.6% 9M-FY 22 94.50% VNB Margin Net 9M-FY 23 63.6% 9M-FY 23 0.00% Total Net NPA Ratio (Individual Non Par) ¹ H1-FY 23 68.7% 9M-FY 22 0.04% VNB Margin Net 9M-FY 23 12.3% 9M-FY 23 5.02% Tot
Slide 16: Actuarial Updates
3 ACTUARIAL UPDATES
Slide 17: Indian Embedded Value (IEV)
Indian Embedded Value (IEV) INR in Crore 545000 5,44,291 544000 543000 542000 5,41,492 541000 540000 5,39,686 539000 538000 537000 30th Sept. 21 31st March 22 30th Sept. 22 16 Source: Milliman Report, IEV as on 30th September 2021 includes bifurcation impact of INR 3,74,172 crore.
Slide 18: Annualised Premium Equivalent (APE) by Line of Business
Annualised Premium Equivalent (APE) APE Line of Business including Group Business INR in Crore Line of Business FY22 Q1FY23 H1FY23 9MFY23 Individual Par 33,040 5,950 13,328 21,206 Individual Non Par 2,532 500 1,315 2,213 Total Individual 35,572 6,451 14,643 23,419 Group 14,818 3,819 10,585 14,126 To
Slide 19: Break up of PAR and Non PAR business (APE) – FY22 to 9MFY23
Break up of PAR and Non PAR business(APE) – FY22 to 9MFY23 Breakup of APE FY22 Breakup of APE Q1FY23 7.12% Non- Par Non- Par 92.24% 92.88% Par 7.76% Par Breakup of APE H1FY23 Breakup of APE 9MFY23 8.98% Non- Par Non- Par Par 9.45% 91.02% 90.55% Par 18 Source : Corporation Data
Slide 20: Value of New Business (VNB)
Value of New Business (VNB) - before TVFOG, FC and CRNHR² INR in Crore LIC of India³ 9MFY23 (Gross) 7,187 H1FY23 (Gross) 4,836 Individual Business³ Group Business³ 9MFY23 4,683 9MFY23 2,504 H1FY23 2,974 H1FY23 1,862 Non Par Businessˡ³ Par Business³ 9MFY23 1,627 9MFY23 3,056 H1FY23 1,046 H1FY23 1,928
Slide 21: Value of New Business (VNB) margin
Value of New Business (VNB) margin LIC of India¹ 9MFY23 (Net) 14.6% H1FY23 (Net) 14.6% Individual Business¹ Group Business¹ 9MFY23 (Gross) 20.0% 9MFY23 (Gross) 17.7% H1FY23 (Gross) 20.3% H1FY23 (Gross) 17.6% Non Par Businessˡ Par Business¹ 9MFY23 (Gross) 73.5% 9MFY23 (Gross) 14.4% H1FY23 (Gross) 79.
Slide 22: VNB Walk March 2022 to December 2022
VNB Walk March 2022 to December 2022 Source: Corporation Data 21
Slide 23: Persistency ratio (by premium)
70.00% 64.99% 65.47% 59.06% 59.00% 60.00% 55.32% 55.60% 53.67% 52.45% 51.42% 50.85% 50.00% 40.00% 9MFY23 30.00% 9MFY22 20.00% 10.00% 0.00% 13th Month 25th Month 37th Month 49th Month 61st Month 22 Source Corporation data as per IRDAI guidelines
Slide 24: Persistency ratio (by number of policies)
90.00% 80.00% 77.61% 76.84% 71.32% 71.70% 70.00% 68.31% 67.84% 64.70% 64.97% 62.73% 61.91% 60.00% 50.00% 9MFY23 40.00% 9MFY22 30.00% 20.00% 10.00% 0.00% 13th Month 25th Month 37th Month 49th Month 61st Month 23 Source Corporation data as per IRDAI guidelines
Slide 25: Policyholders age and policy term
Policyholders age and policy term¹ Average Age in Years Average Policy Term in Years 60 57 30 27 50 25 23 22 39 40 20 35 17 31 32 32 30 15 14 20 10 Average Age Average Term 10 5 1.6 0 0 Source Corporation data, ¹ Age and Term for Individual Products for 9MFY23. 24
Slide 26: Marketing and Distribution Strengths
MARKETING AND DISTRIBUTION 4 STRENGTHS
Slide 27: Robust agency force
Robust agency force 1600000 LARGEST AGENCY FORCE 14.00% GROWTH IN NO. OF AGENTS {2019 to 2022} Growth {9MFY23 over 9MFY22} 1322586 12.48% 1400000 1353808 1326432 1206401 12.00% 11.29% 1208826 1200000 1116175 1069640 1101268 9.91% 4.58% 10.00% 1000000 8.00% 800000 -0.52% 600000 6.00% 10.81% 400000 4.
Slide 28: 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% More than 5 18-30 yrs Years 9% 16% 43% 60% 50-60 yrs 20% 30-35 yrs 50% 12% Up to 5 Years, 4
Slide 29: Agents’ training
Agents’ training Training in Sales Training 20,527 Agents fulfilling the Training in External Centres and Zonal MDRT criteria Training Institutes – 4,138 Training Centres – 2,12,871 Total 2,95,700 agents trained in 80% 77.35% Agents recruited within 9MFY23 the 18-40 years age group Imparted training
Slide 30: Feet on street – our core distribution approach
Feet on street – our core distribution approach Organisational Structure Agents Training Infrastructure CO 1.44% Employees 8 Zonal Training Centers Office 8 Zonal 3.26% Employees Office 35 Sales Training Centers 113 Divisional Office 14.21% Employees 113 Divisional Training Centers 2048 Branch Offic
Slide 31: 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 30 Source Corporation data as on 31.12.2022
Slide 32: Enhancing focus on building Omni-channel distribution network
Enhancing focus on building Omni-channel distribution network Snapshot of LIC’s vast distribution capabilities 13.22¹ lacs Agents exclusive to LIC 78 Bancassurance partnerships 157² Corporate Agents 286 Brokers 110 Insurance Marketing Firms 40,356³ Premium points + 2697 MICRO Insurance Premium Point
Slide 33: 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 0.35% and alternate channels (INR Crore) 0.52% 0.41% 0.13% 1,355 2.56% 3.50% +48% 918 96.52% 96.02% 9M 2
Slide 34: Break up of business PAR and Non PAR – 9MFY23
Break up of business PAR and Non PAR – 9MFY23 Breakup of NB premium Particulars Non Par NBP share Term 0.39 % Health Insurance 0.14% 66.39% Non- Par Annuity/Pension 23.85% 33.61% Par Other Non Par 2.25% ULIP 6.98% Total 33.61% Share to total NB policies Particulars Non Par NB share (No of policy) Te
Slide 35: Group business segment
Group business segment INR in Crore 80.00% Market share (premium) Business premium 79.00% 160000 78.00% 140000 77.00% 120000 76.00% 100000 75.00% 78.65% 80000 1,41,815 74.00% 60000 73.00% 94,452 40000 73.78% 72.00% 20000 71.00% 9MFY23 9MFY22 0 9MFY23 9MFY22 Growth – 50.15% YoY basis in Group busines
Slide 36: Achieving Operational Efficiency
ACHIEVING OPERATIONAL 5 EFFICIENCY
Slide 37: 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 38: 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 50% 45% 44% 45% 42% 42% 41% 40% 35% 30% 30% 30% 26% 26% 27% 25% 20% 15% 10% 5% Out of
Slide 39: LIC marketing distribution - geared to recover/enhance market share
LIC marketing distribution - geared to recover/enhance market share LIC BUSINESS PERCENTAGE IN INDUSTRY BY PREMIUM LIC BUSINESS PERCENTAGE IN 80 INDUSTRY BY PREMIUM 73 Apr-21 80 75 71 70 69 68 May-21 75 64 69 68 68 68 68 65 62 70 65 65 65 65 59 60 59 59 Jun-21 65 60 Apr-22 55 Jul-21 60 50 55 May-22
Slide 40: LIC marketing distribution - geared to recover/enhance market share
LIC marketing distribution - geared to recover/enhance market share LIC BUSINESS PERCENTAGE IN INDUSTRY BY POLICIES LIC BUSINESS PERCENTAGE IN 81 80 77 75 INDUSTRY BY POLICIES 75 73 74 74 75 72 72 80 69 70 66 Apr-21 64 65 May-21 60 Jun-21 Apr-22 55 75 50 Jul-21 May-22 45 Aug-21 72 72 Jun-22 71 71 71
Slide 41: 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 face to face Time to Policy conclusion is less than 8 Minutes. Now ANANDA
Slide 42: Strengthening our digital process
Strengthening our digital process Empowering Policyholders 1. Policy Status Application facilitate submission of 2. First Unpaid Premium Digital existence certificate for date individual pension plan and staff 3. Last paid premium date LIC docQ Application helps pensioners of LIC 4. Download forms u
Slide 43: LIC in WhatsApp
LIC IN WHATSAPP BASIC DETAILS CALL CENTRE PHONE NUMBER SERVICE : 8976862090 (022)6827 6827 LIC MOBILE APP: SAY HI TO START LIC CUSTOMER COVERSATION WhatsApp services started on 01.12.2022 and 1,67,87,430 customers opted/enabled as on 31.12.2022. Source : Corporation Data as on 31.12.2022 43
Slide 44: LIC in WhatsApp
LIC IN WHATSAPP SERVICES CONDITIONS Eligible for portal registered Branded users who have logged into Automated verified portal at least once Messages conversation Ease of Streamlined customer The mobile registered in the interaction portal and the Whatsapp services mobile no. should be same Source
Slide 45: Empowering policyholders and agents in a digital world
Empowering policyholders and agents in a digital world Source Corporation data 45
Slide 46: Operational efficiency - print to post solution
Operational efficiency- illustration - print to post solution Print to Post – Developed Solution with Postal Department Policy bond printing and delivery solution. Dispatch of Tracking of Undelivered BRANCH OFFICE - 2048 policy bond policy bond return to Branch SATELITE OFFICE -1575 through speed th
Slide 47: Online service requests
Online service requests 2021-22 9MFY23 3,94,542 8,62,228 Loan payment and Growth repayment e-NACH 118.54% ULIP fund switch Change of Mode PAN data NEFT registration registration Aadhaar based change of address Source Corporation data 46
Slide 48: Modes of premium collection and percentage to total policies
Modes of premium collection and percentage to total policies 30.00% 27.26% 27.30% 25.80% 25.56% 24.79% 25.00% 23.68% 20.00% 15.00% 13.50% 11.64% 10.00% 8.89% 8.47% 5.00% 0.63% 0.54% 0.95% 0.99% 0.00% LIC Portal/APP Other Apps Bill Pay NACH & Direct Merchant Banks & Cash counter Debit Frenchisees 9MF
Slide 49: No. of Customers
LIC customer APP users Portal registered customers Figures in Figures in App rating Lakh Lakh 3.89/ 5.00¹ 70 250 60 208 59.53 200 193.8 57.5 50 169 No. of Customers 45.4 40 150 30 100 20 10 50 0 FY21 FY22 9MFY23 0 FY21 FY22 9MFY23 Source Corporation data,.¹App Rating as on 31.12.2022 48
Slide 50: Customer care – at our core philosophy
Customer care – at our core philosophy ❖ Settled total death claims of Rs. 17,350 crore in 9MFY23 as against Rs. 29,271 crore in 9MFY22. ❖ Claim settlement ratio (Death) in 9MFY23 is 97.43% by number as against 96.10% in 9MFY22. ❖ Every 1.18 second, 1 claim was settled by the LIC of India during FY2
Slide 51: Key Focus Area
6 KEY FOCUS AREA
Slide 52: Strategy – Key Focus Areas
Strategy – Key Focus Areas I. Diversify Product Mix – Focus on enhancing Non Par Share. II. Launch New Products based not only on customer needs but also channel needs. III. Increase digital processes all across to drive higher efficiency. IV. Create optimum mix of distribution channels while retain
Slide 53: Appendix
APPENDIX cree
Slide 54: Highly experienced management team, distinguished Board and strong corporate governance framework
Highly experienced management team, distinguished Board and strong corporate governance framework Shri Mangalam Shri Suchindra Shri Siddhartha Ramasubramanian Misra Mohanty Kumar Government Nominee Managing Director Whole-time Chairperson Director Smt. Ipe Mini Shri Bishnu Dr. Ranjan Shri Vinod Kuma
Slide 55: Financials - Standalone Balance Sheet
Financials - Standalone Balance Sheet For the Year ended For the Nine months ended (INR lakhs) Particulars March 31, 2022(Standalone) December 31, 2021(Standalone) December 31, 2022(Standalone) Sources of funds Shareholders' funds: Share capital 6,32,499.77 6,32,499.77 6,32,499.77 Reserves and surpl
Slide 56: Financials - Standalone Statement of Revenue (Policyholders’ Account)
Financials - Standalone Statement of Revenue (Policyholders’ Account) (INR lakhs) For the year ended For the Nine months ended Particulars March 31, 2022(Standalone) December 31, 2021(Standalone) December 31, 2022(Standalone) Premiums earned - net (a) Premium 4,28,02,497.15 2,84,05,465.77 3,42,70,42
Slide 57: Financials – Standalone Statement of Profit & Loss (Shareholders’ Account)
Financials – Standalone Statement of Profit & Loss (Shareholders’ Account) (INR lakhs) For the year ended For the Nine months ended Particulars March 31, 2022(Standalone) December 31, 2021(Standalone) December 31, 2022(Standalone) Amounts transferred from/to the Policyholders account (Technical Acco
Slide 58: LIC – Group structure
LIC – Group structure Foreign branches1 Subsidiaries Associates Country Entity Country Entity Stake held (%) Country Entity Stake held (%) 100.00% 45.24%3 Fiji Branch 100.00% 5.38%3 Mauritius 99.66%2 Branch 49.24%4 100.00% 29.84%4 United Kingdom 80.00% Branch 45.00% 55.00% LIC Mutual Fund X% - Share
Slide 59: 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 -4.
Slide 60: 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 61: 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 Chaina Japan South Singapore Australia Hong K
Slide 62: 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 3000 5.8 2329 2050 5 4 2000 3.4 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 63: Household savings to increase
Household savings 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 64: 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 20.8% of individual policies sold an
Slide 65: 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 66: 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 ✓Outstanding investments worth INR 14.1bn in renewable energy
Slide 67: Committed to ESG initiatives across the organisation
Committed to ESG initiatives across the organisation Roof top solar capacity installed (KW) Series1 Total Reduction of carbon emissions (in tons) 4500 4000 4171 3460 4000 3500 3500 3376 2966 3000 2856 3141 3000 2500 2500 2051 2254 2000 1812 2024 2000 1500 1500 1000 1000 500 500 0 0 FY 2019 FY 2020 F
Slide 68: Awards won by LIC during 2022-23
Awards won by LIC during 2022-23 BFSI National Award for BFSI National Award for Leadership & Excellence - Best Life Insurance Company Leadership & Excellence - Best Customer Service Excellence Award in Claim Settlement Persistency Award BFSI National Award for BFSI National Award for Leadership & E
Slide 69: 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 70: 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 Individu
Slide 71: 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 72: Thank You
THANK YOU Investor Relations Contact: Life Insurance Corporation of India Yogakshema, Seventh Floor, East Wing, Jeevan Bima Marg, Nariman Point, Mumbai- 400021. Contact # +91 66599479 Email - investorrelations@licindia.com Website – www.licindia.in
Life Insurance Corporation of India — Q3 FY2023 Earnings Presentation on 6ix