Life Insurance Corp. Of India · NSE:LICI
Life Insurance Corp. Of India — Life Insurance Corporation of India — Investor Presentation (September 2022)
78 slides from Life Insurance Corp. Of India's investor presentation, Sep 20, 2022
Slide 1: Cover letter to stock exchanges
Ref. No.: LIC/SE/2022-23/70 Date: September 20th, 2022 P P To, The Manager The Manager Listing Department Listing Department BSE Limited The National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Tower Exchange Plaza, 5th Floor, Plot C/1, Dalal Street G Block, Bandra Kurla Complex Mumbai- 400001 M
Slide 2: Corporate Presentation
Corporate Presentation 20th September 2022
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 2 (b) FINANCIALS
Slide 4: Introduction
I INTRODUCTION
Slide 5: Pride of India
: : Pride of India Largest life insurer in India1,2 Brand is the 3rd Customer centric strongest global Strong distribution insurance brand3, with network in India ~28.07 crore policies Operating efficiencies being serviced4 and driven by technology ~13.33 lakh agents5 Established track record of pro
Slide 6: #1 life insurer in India, 5th largest in the world by life insurance GWP
#1 life insurer in India, 5th largest in the world by life insurance GWP Sustained market leadership Scale Customer & distribution ~2.17 crore INR 2,05,758 16.37 FY22 Individual policies ~13.33 lakh Policies sold per agent for sold Crore5 Agents (June-22) FY22 FY22 NBP Significantly higher than 5th
Slide 7: Differentiated business model with deep competitive moats
Differentiated business model with deep competitive moats Cross cyclical Unrivalled Dedicated focus Strong investment Strong risk and Unmatched scale Trusted brand distribution on technology & financial track controls comprehensive solutions record ₹ Fifth largest life Trusted brand Cross-cyclical P
Slide 8: 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 9: 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 Raj Kumar Shri Siddhartha Ramasubramanian Misra Managing Director Mohanty Kumar Government Managing Director Whole-time Nominee Director Chairperson Smt. Ipe Mini Shri
Slide 10: Awards won by LIC during 2021-22
Awards won by LIC during 2021-22 9 Source: Corporation data.
Slide 11: Awards won by LIC during 2021-22
Awards won by LIC during 2021-22 10 Source: Corporation data.
Slide 12: Financial and Business Highlights
II FINANCIAL AND BUSINESS HIGHLIGHTS
Slide 13: Business Performance Parameters
Business Performance Parameters INR Crore FY 22 INR 2,05,758 Cr FY 22 INR 63.25 % Total New Business Market Share in -2.93% Premium +7.42% FY 21 INR 1,91,542 Cr Premium¹ FY 21 INR 66.18 % (Absolute) FY 22 INR 54,960 Cr FY 22 INR 1,50,798 Cr Individual New Business Group Business -2.95 % + 11.78% Pre
Slide 14: Business Performance Parameters
Business Performance Parameters INR Crore Q1-FY 23 INR 49,283 Cr Q1-FY 23 65.42 % Total New Business Market Share in -2.10% Premium +34.38% Q1-FY 22 INR 36,673 Cr Premium¹ Q1-FY 22 67.52 % (Absolute) Q1-FY 23 INR 10,938 Cr Q1-FY 23 INR 38,345 Cr Individual New Business Group Business +36.04% + 33.92
Slide 15: Business Performance Parameters
Business Performance Parameters INR Crore Q1-FY 23 INR 1,19,933 Cr Q1-FY 23 INR 6,595 Cr Weighted Received Total New Business Sum +36 % Assured Q1-FY 22 INR 74,616 Cr +61% Premium Q1-FY 22 INR 4,861 Cr Q1-FY 23 INR 2,334 Cr Q1-FY 23 INR 10,270 Cr Total COVID 19 Claims Paid¹ +614 % Total APE Q1-FY 22
Slide 16: Financial Performance Parameters
Financial Performance Parameters INR Crore Q1-FY 23 Rs. 682.88 Cr Q1-FY 23 INR 42,23,372 Cr Profit After Tax Total Assets + 7.61% Q1-FY 22 Rs. 2.94 Cr Q1-FY 22 INR 39,24,600 Cr Q1-FY 23 INR 1861 Cr Q1-FY 23 1.88 Solvency Value of New Business FY 22 INR 9920 Cr Q1-FY 22 1.73 FY 21 INR 6440 Cr Q1-FY 2
Slide 17: Performance Ratios
Performance Ratios Conservation Ratio Q1- FY 23 97.99% VNB Margin Gross Q1- FY 23 14.38% (Individual Par) Q1- FY 22 96.88% Q1- FY 23 0.00 % VNB Margin Gross Q1- FY 23 84.20% Total Net NPA Ratio (Individual Non Par) Q1- FY 22 0.05 % Q1- FY 23 5.84% VNB Margin Gross Q1- FY 23 15.26% Total Gross NPA Ra
Slide 18: Break up of Business – PAR and Non PAR
Break up of Business – PAR and Non PAR % Share to Total NB NON PAR Share in New Business Premium Premium 0.69% 0.40% 5.15% Saving 0.14% 29.67% Term Non- Par Annuity/Pension Par 70.33% 23.29% Health ULIP Share to total New Business NON PAR Share in New Business (Number of Policies Policies) 0.60% 4.3
Slide 19: Group Business Segment
Group Business Segment INR in Crore 78 MARKET SHARE (PREMIUM) NEW BUSINESS PREMIUM 150000 77.5 145000 77 140000 76.5 135000 77.69 76 130000 143,939 125000 76.16 75.5 127,768 120000 75 FY22 FY21 115000 FY22 FY21 Growth – 12.66% YoY basis in Group New Business Premium 18 Source: Corporation data
Slide 20: Group Business Segment
Group Business Segment INR in Crore 79.5 MARKET SHARE (PREMIUM) NEW BUSINESS PREMIUM 79 45000 78.5 40000 78 35000 77.5 30000 25000 77 78.87 20000 38,345 76.5 15000 28,633 76 76.43 10000 75.5 5000 75 Q1FY23 Q1FY22 0 Q1FY23 Q1FY22 Growth – 33.92% YoY basis in Group New Business Premium 19 Source: Corp
Slide 21: Product, Customer Franchise and Distribution Reach
III PRODUCT, CUSTOMER FRANCHISE AND DISTRIBUTION REACH
Slide 22: 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) 11 Group products (incl. one credit life and one annuity product) 8 Riders All new launches in the current Financial Ye
Slide 23: Our Products Designed to Suit Customer Life Cycle
Our Products Designed to Suit Customer Life Cycle Participating Products Non-participating Products 22 Product list is indicative and not exhaustive.
Slide 24: Enhancing focus on building Omni-channel distribution network
Enhancing focus on building Omni-channel distribution network Snapshot of LIC’s vast distribution capabilities 13.33 lakh Agents exclusive to LIC 77 Bancassurance partnerships 74 Corporate Agents 226 Brokers 118 Insurance Marketing Firms 39,358 Premium points + 4398 MICRO Insurance Premium Points 19
Slide 25: 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 0.15% and alternate channels (INR Lakh) 0.67% 0.16% 0.21% 1.54% 2.66% 29,046 +135..41 % 12,341 97.6% 97.
Slide 26: Feet on Street – Our core distribution approach
Feet on Street – Our core distribution approach Organisational Structure Agents Training Infrastructure CO 1.42% Employees 8 Zonal Training Centers Office 8 Zonal 2.55% Employees Office 35 Sales Training Centers 113 Divisional Office 14.29% Employees 113 Divisional Training Centers 2048 Branch Offic
Slide 27: Agents’ Training
Agents’ Training Training in Sales Training 19,393 Agents fulfilling the Training in External MDRT criteria in FY22 Centres and Zonal Training Institutes -17,678 Training Centres - 2,85,290 Total 4,08,152 agents trained in 80% 80% Agents recruited in FY22 FY 22 within the 18-40 years age group Impar
Slide 28: Robust Agency Force
Robust Agency Force 1600000 LARGEST AGENCY FORCE 14.00% GROWTH IN NO. OF AGENTS {2019 to 2022} Growth {Q1FY23 over Q1FY22} 12.48% 1400000 1353808 1326432 12.00% 11.29% 1208826 1116175 1179229 1101268 1200000 +3% 1069640 9.91% 1015518 10.00% 1000000 8.00% 800000 -1% +8% 600000 6.00% 400000 4.00% 2000
Slide 29: 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 8.85%, 9% 18-30 yrs, Years 16.71%, 17% 60% 59% 50-60 yrs, 30-35 yrs, 19.44%, 1
Slide 30: Geographic distribution of individual agents (%)
Geographic distribution of individual agents (%) 54% 53% 53% 52% 51% 50% 49% 48% 47% 47% 46% 45% 44% Metropolitan, Urban Rural & Semi-urban PAN India presence of Agents which shows our feet on street 29 Source Corporation data
Slide 31: Customer Satisfaction – Our Focus
Customer Satisfaction – Our Focus Surrender Ratio 2.4 2.36 2.36 2.35 2.32 2.3 2.25 2.21 2.2 2.15 2.1 2018-19 2019-20 2020-21 2021-22 Source: Corporation data. ¹¹surrender Ratio of Total Surrender amount to Total Investments as per summary of Financial Statements. 30
Slide 32: Actuarial Metrics
IV ACTUARIAL METRICS
Slide 33: Indian Embedded Value (IEV)
Indian Embedded Value (IEV) INR in Crore 600000 539686 5,39,686 5,41,492 541492 500000 400000 300000 200000 95,605 100000 46,497 0 31st March 20 31st March 21 30th Sept. 21 31st March 22 Indian Embeded Value 32 Source: Milliman Report, IEV as on 30th September 2021 it includes bifurcation impact of
Slide 34: Source: Milliman Report
INR in crore 33 Source: Milliman Report
Slide 35: Build up of Embedded Value
Build up of Embedded Value INR in Crore Components March 2021 March 2022 A. Free surplus (FS) 6,361 10,527 B. Required Capital (RC) - - C. Adjusted Net Worth (ANW) (C=A+B) 6,361 10,527 D. Present value of future profits (PVFP) 1,04,772 5,47,724 E. Time Value of financial options and (1,596) (2,076)
Slide 36: Analysis of Movement in IEV
Analysis of Movement in IEV Components FY 2022 (INR in Crore) Opening IEV 95,605 Bifurcation Impact 3,74,172 Expected return on Existing Business At Reference Rate 4,742 At Expected ‘real – world’ return in excess of Reference rate 17,977 Operating assumptions change (5,243) VoNB added during the pe
Slide 37: Sensitivity Analysis
Sensitivity Analysis Scenario Change in IEV % Change in VoNB Margin% Reference Rate +100 bps (0.4%) 1.8% Reference Rate - 100 bps (0.3%) (4.7%) Decrease in Equity Value 10% (6.5%) (0.4%) Proportionate change in lapse rate +10% (0.2%) (0.5%) Proportionate change in lapse rate -10% 0.2% 0.5% Mortality
Slide 38: Sensitivity Analysis
Sensitivity Analysis Change in Indian Change in New Business Sensitivity – Scenarios Embedded Value Margin (Percent) For the Year End 3/2022 3/2022 Base results (INR in Crore) 5,41,492 15.1% Reference An increase of 100 bps in the reference rates (0.4%) 1.8% rates A decrease of 100 bps in the refere
Slide 39: Annualised Premium Equivalent (APE) Product Mix
Annualised Premium Equivalent (APE) APE Product Mix INR in Crore Segment FY 2021 FY 2022 Q1FY23 Year On Year Growth Individual Par 29,134 33,040 5,950 13.41% Individual Non 2,389 2,532 500 5.99% Par Group 10,647 14,818 3,819 39.18% Total APE 42,170 50,390 10,270 19.49% 38 Source Milliman Report and
Slide 40: Value of New Business (VNB)
Value of New Business (VNB) - Before TVFOG, FC and CRNHR² INR in Crore LIC of India Q1FY23 1,861 FY 22 9,920 FY 21 6,440 Individual Business Group Business Q1FY23 1,278 Q1FY23 583 FY 22 7,101 FY 22 2,819 FY 21 5,215 FY 21 1,225 Non Par Businessˡ Par Business Q1FY23 421 Q1FY23 856 FY 22 2,624 FY 22 4
Slide 41: Value of New Business (VNB) Margin
Value of New Business (VNB) Margin LIC of India Q1FY23 13.60% (Net) FY 22 15.1% (Net) FY 21 9.9% (Net) Individual Business Group Business Q1FY23 19.80% (Gross) Q1FY23 15.26% (Gross) FY 22 19.96% (Gross) FY 22 19.02% (Gross) FY 21 16.54% (Gross) FY 21 11.51% (Gross) Non Par Businessˡ Par Business Q1F
Slide 42: VNB Walk FY22 to Q1FY23
VNB Walk FY22 to Q1FY23 (March 2022 to June 2022) (2.3%) 0.8% 15.1% 13.6% Opening VNB Margin Impact of Product Impact of change in VNB Margin as on Mix assumptions 30th June 2022 41 Source: Corporation Data
Slide 43: Persistency ratios
80 90 79 70 67 80 76 63 73 61 70 67 58 55 70 67 60 63 64 54 52 52 59 61 50 4850 60 50 40 21-Mar 21-Mar 22-Mar 40 22-Mar 30 30 20 20 10 10 0 0 13th 25th 37th 49th 61st 13th 25th 37th 49th 61st 42 Source Corporation data
Slide 44: Persistency ratios
70% 80% 64% 76% 72% 61% 68% 60% 56% 70% 67% 54% 64% 63% 61% 52%51% 49% 60% 59% 48% 60% 56% 50% 48% 45% 50% 40% Q1FY23 40% Q1FY23 30% Q1FY22 Q1FY22 30% 20% 20% 10% 10% 0% 0% 13th 25th 37th 49th 61st 13th 25th 37th 49th 61st Month Month Month Month Month Month Month Month Month Month 43 Source Corpora
Slide 45: Technological and Digital Initiatives
V TECHNOLOGICAL AND DIGITAL INITIATIVES
Slide 46: Online Service Requests
Online Service Requests 2020-21 2021-22 394,542 231,179 Loan Payment and Growth Repayment e-NACH 70.67% ULIP Fund Switch Change of Mode PAN Data NEFT Registration Registration Aadhaar Based Change of Address 45 Source Corporation data
Slide 47: 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 48: Empowering Policyholders and Agents in a Digital World
Empowering Policyholders and Agents in a Digital World 47 Source Corporation data
Slide 49: 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 50: Operational Efficiency - Print to Post Solution
Operational Efficiency- Illustration - Print to Post Solution Print to Post – Developed Solution with Postal Department for Policy bond printing and delivery. Dispatch of Tracking of Undelivered BRANCH OFFICE - 2048 policy bond policy bond return to Branch SATELITE OFFICE -1567 through speed through
Slide 51: ESG Initiatives
VI ESG INITIATIVES
Slide 52: Embedding ESG in our business
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 a
Slide 53: Embedding ESG in our business
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 Contribution to Clean Ganga Fund by LIC GJF. Contributed Rs.
Slide 54: Embedding ESG in our business
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 14.1 lakh crore in renewab
Slide 55: Committed to ESG Standard
Committed to ESG Standard Roof top solar capacity installed (KW) Series1 Total Reduction of carbon emissions (in tons) 4000 3500 3500 2966 3376 3000 2856 3141 3000 2500 2500 2051 2254 2000 1812 2024 2000 1500 1500 1000 1000 500 500 0 0 FY 2019 FY 2020 FY 2021 FY 2022 FY 2019 FY 2020 FY 2021 FY 2022
Slide 56: Way Forward
VII WAY FORWARD
Slide 57: Way Forward – Strategic Initiatives
Way Forward – Strategic Initiatives 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 whi
Slide 58: Indian Industry Landscape
(a) INDIAN INDUSTRY LANDSCAPE 57
Slide 59: India is one of the fastest-growing major economies
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 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 China Japan South Singapore Australia Hong Ko
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 5.8 3000 2329 2050 5 4 3.4 3.2 2000 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 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 64: Share of Financial Assets in Overall Savings to Increase
Share of Financial Assets in Overall Savings to Increase 25000 120% 22846 21341 21780 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 65: 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% India. Li
Slide 66: 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 67: 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 68: 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 69: Projected Growth in total premium over next five years
Projected Growth in total premium over next five years 14000 INR Billion 12408 12000 10988 9704 10000 Insurers to grow at 14-15% CAGR 8294 over the next five 8000 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 70: Financials
(b) FINANCIALS
Slide 71: Financials - Standalone balance sheet
Financials - Standalone balance sheet (INR lakhs) For the Year ended For the three Months ended Particulars March 31, 2021(Standalone) March 31, 2022(Standalone) June 30, 2021(Standalone) June 30, 2022(Standalone) Sources of funds Shareholders' funds: Share capital 10,000.00 6,32,499.77 10,000.00 6,
Slide 72: 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, 2021(Standalone) March 31, 2022(Standalone) June 30, 2021(Standalone) June 30, 2022(Standalone) Premiums earned - net (a) Premium 4,03,28,655.48 4,28,
Slide 73: 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, 2021(Standalone) March 31, 2022(Standalone) June 30, 2021(Standalone) June 30, 2022(Standalone) Amounts transferred from/to the Policyholders acc
Slide 74: 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 75: 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 76: 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 77: Thank You
Thank You Investor Relations Contact: Investor Relation Department, 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.com 76
Slide 78: List of firms participating in Corporate Meetings with LIC on 21st Sep 2022
19.09.2022 List of firms participating in Corporate Meetings with LIC on 21st Sep 2022 at Motilal Oswal Annual Global Investor Conference 1. Ambit Investment Advisors 2. Mahindra Asset Management Co 3. MOSL AMC 4. Shriram MF 5. Fidelity International 6. ICICI Prudential MF 7. IDFC MF 8. Max Life Ins
Life Insurance Corporation of India — Investor Presentation (September 2022) on 6ix