Life Insurance Corp. Of India · NSE:LICI
Life Insurance Corp. Of India — Life Insurance Corporation of India — FY2023 Earnings Presentation
74 slides from Life Insurance Corp. Of India's earnings presentation, May 25, 2023
Slide 1: Conference call with analysts/investors - exchange cover letter
Ref. No.: LIC/SE/2023-24/27 Date: May 25th, 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-40005
Slide 2: Investor Presentation FY 2023
Investor Presentation FY 2023 May 24, 2023 1
Slide 3: Agenda
Agenda 1 – INTRODUCTION TO LIC 2 – BUSINESS AND FINANCIAL UPDATES 3 – ACTUARIAL UPDATES 4 – MARKETING AND DISTRIBUTION STRENGTHS 5 – ACHIEVING OPERATIONAL EFFICIENCIES 6 – KEY FOCUS AREAS APPENDIX
Slide 4: Introduction to LIC
1 INTRODUCTION TO LIC
Slide 5: Largest life insurer in India – clear market leader
Largest life insurer in India – clear market leader Largest Insurance company by Market Cap in India1 10th largest life insurer globally by total premium volume, 2021³ Composite business market share of 63.25% for FY22 and 62.58% for FY23 by First Year Premium Income2 LIC grew in FYPI by 16.67% from
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 – 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 8: 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)² 11 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 during FY 23
New products launched during FY 23 LIC’s Bima LIC’s New Name of LIC’s Dhan LIC's Jeevan Ratna Pension LIC's Dhan LIC’s New Tech LIC's New Products Sanchay Azad Plus Varsha Term Jeevan Amar Introduction 27.05.2022 14.06.2022 05.09.2022 17.10.2022 23.11.2022 23.11.2022 19.01.2023 date Par/Non Par Non-
Slide 10: Business and Financial Updates
BUSINESS AND 2 FINANCIAL UPDATES
Slide 11: Business performance parameters
Business performance parameters INR in Crore FY 23 INR 4,74,005 Cr FY 23 62.58% Market Share in -0.67 % Total Premium Income +10.90 % Premium¹ (Absolute) FY 22 INR 4,27,419 Cr FY 22 63.25% FY 23 INR 58,757 Cr FY 23 INR 1,81,242 Cr Individual New Business Total Group Business Premium + 6.91% Premium
Slide 12: Business performance parameters
Business performance parameters INR in Crore FY 23 INR 35,605 Cr FY 23 INR 6,95,645 Cr Weighted Received Total New Business Sum + 9.49% Assured + 4.49% Premium FY 22 INR 32,518 Cr FY 22 INR 6,65,754 Cr FY 23 INR 560 Cr FY 23 INR 56,682 Cr Total COVID 19 Claims +12.49% Paid - 73.48% Total APE FY 22 I
Slide 13: Financial performance parameters
Financial performance parameters INR in Crore FY 23 INR 36,397.40 Cr2 FY 23 98.52% Claim Settlement Ratio -0.22% Profit After Tax Death FY 22 INR 4043.13 Cr FY 22 98.74% (Absolute) FY 23 8.29% - 0.26% FY 23 1.87³ Yield on Investment Solvency +0.02 (Policyholders Fund)ˡ (absolute) FY 22 8.55% FY 22 1
Slide 14: Performance ratios
Performance ratios FY 23 16.2% FY 23 91.67% Total VNB Margin Net Conservation Ratio FY 22 15.1% FY 22 90.33% FY 23 2.56 % FY 23 0.00% Total Gross NPA Ratio Total Net NPA Ratio FY 22 6.03 % FY 22 0.04% FY 23 15.53 % FY 23 5.39 % Overall Expense Ratio Commission Ratio FY 22 14.50% FY 22 5.54% Source C
Slide 15: Actuarial Updates
3 ACTUARIAL UPDATES
Slide 16: Indian Embedded Value (IEV)
Indian Embedded Value (IEV) INR in Crore 5,90,000 5,82,243 5,80,000 5,70,000 5,60,000 5,50,000 5,44,291 5,41,492 5,39,686 5,40,000 5,30,000 5,20,000 5,10,000 30th 30thSept. Sept.21 21¹ 31st March 22 30th Sept. 22 31st March 23 Source: Corporation data, ¹Milliman Report, IEV as on 30th September 2021
Slide 17: 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 16
Slide 18: 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 19: 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 20: 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 21: Annualised Premium Equivalent (APE)
Annualised Premium Equivalent (APE) APE Line of Business including Group Business INR in Crore Year on Year Line of Business FY22 FY23 Growth A Individual Par 33,040 35,231 6.63% B Individual Non Par 2,532 3,436 35.70% C Total Individual (A+B) 35,572 38,667 8.70% D Group 14,818 18,015 21.57% E Total
Slide 22: Break up of PAR and Non PAR business (APE) – FY22 to FY23
Break up of PAR and Non PAR business(APE) – FY22 to FY23 Breakup of APE FY22 Breakup of APE FY23 Non- Par Non- Par Par Par 7.12% 8.89% 92.88% 91.11% Source : Corporation Data 21
Slide 23: Value of New Business (VNB)
Value of New Business (VNB) - before TVFOG, FC and CRNHR² INR in Crore LIC of India FY23 (Gross) 11,553 FY22 (Gross) 9,920 Individual Business Group Business FY23 7,571 FY23 3,982 FY22 7,101 FY22 2,819 Non Par Businessˡ Par Business FY23 2,419 FY23 5,152 FY22 2,624 FY22 4,477 Source: Corporation dat
Slide 24: Value of New Business (VNB) margin
Value of New Business (VNB) margin LIC of India FY23 (Net) 16.2 % FY22 (Net) 15.1% Individual Business Group Business FY23 (Gross) 19.6% FY23 (Gross) 22.1% FY22 (Gross) 19.9% FY22 (Gross) 19.0% Non Par Business¹ Par Business FY23 (Gross) 70.4% FY23 (Gross) 14.6% FY22 (Gross) 103.6% FY22 (Gross) 13.5
Slide 25: VNB Walk March 2022 to March 2023
VNB Walk March 2022 to March 2023 Source: Corporation Data 24
Slide 26: Persistency ratio by number of policies
70.00% 64.28% 63.45% 60.70% 60.00% 56.97% 56.90% 54.09% 51.05% 51.90% 49.86% 49.86% 50.00% 40.00% FY23 30.00% FY22 20.00% 10.00% 0.00% 13th Month 25th Month 37th Month 49th Month 61st Month 25 Source Corporation data as per IRDAI guidelines
Slide 27: Persistency ratio by premium
90.00% 80.00% 77.09% 75.59% 73.47% 69.93% 70.05% 70.00% 66.58% 63.53% 63.85% 61.80% 61.00% 60.00% 50.00% FY23 40.00% FY22 30.00% 20.00% 10.00% 0.00% 13th Month 25th Month 37th Month 49th Month 61st Month 26 Source Corporation data as per IRDAI guidelines
Slide 28: 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 23 40 40 20 35 17 31 32 32 30 15 14 20 10 Average Age Average Term 10 5 2 0 0 Source Corporation data, ¹ Age and Term for Individual Products for FY23. 27
Slide 29: Marketing and Distribution Strengths
MARKETING AND 4 DISTRIBUTION STRENGTHS
Slide 30: Robust agency force
Robust agency force 16,00,000 LARGEST AGENCY FORCE 25.00% GROWTH IN NO. OF AGENTS {2020 to 2023} Growth {FY23 over FY22} 13,47,325 12,80,883 14,00,000 13,53,808 13,26,432 12,08,826 19.75% 11,16,175 20.00% 14.76% 12,00,000 10,69,640 11,01,268 10,00,000 15.35% 15.00% 8,00,000 11.46% 6,00,000 7.60% 10.
Slide 31: 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 10% 15% 60 % 60% 51-60 yrs 20% 31-35 yrs 50% 12% Up to 5 Years,
Slide 32: 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 33: Feet on street – our core distribution approach
Feet on street – our core distribution approach Organisational Structure Agents Training Infrastructure CO 1.46% Employees 8 Zonal Training Centers Office 8 Zonal 3.22% Employees Office 35 Sales Training Centers 113 Divisional Office 14.11% Employees 113 Divisional Training Centers 2048 Branch Offic
Slide 34: 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 31.03.2023 33
Slide 35: Enhancing focus on building Omni-channel distribution network
Enhancing focus on building Omni-channel distribution network Snapshot of LIC’s vast distribution capabilities 13.47¹ lacs Agents exclusive to LIC 80 Bancassurance partnerships 160² Corporate Agents 295 Brokers 123 Insurance Marketing Firms 40,789³ Premium points + 2,708 MICRO Insurance Premium Poin
Slide 36: 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 0.28% and alternate channels (INR Crore) 0.47% 0.35% 0.13% +26.25% 2.92% 3.44% 2,020 1,600 96.26% 96.15%
Slide 37: Break up of business PAR and Non PAR – FY23
Break up of business PAR and Non PAR –FY23 Breakup of NB premium Particulars Non Par NBP share Term 0.37 % Health Insurance 0.15% 65.89% Non- Par Annuity/Pension 24.89% 34.11% Par Other Non Par 2.25% ULIP 6.45% Total 34.11% Share to total NB policies Particulars Non Par NB share (No of policy) Term
Slide 38: Group business segment
Group business segment INR in Crore 76.70% Market share (premium) New Business premium 76.60% 200000 180000 76.50% 160000 76.40% 140000 76.30% 120000 76.65% 100000 76.20% 1,73,258 80000 1,43,939 76.10% 60000 76.16% 40000 76.00% 20000 75.90% FY23 FY22 0 FY23 FY22 Growth – 20.37% YoY basis in Group ne
Slide 39: Achieving Operational Efficiencies
ACHIEVING OPERATIONAL 5 EFFICIENCIES
Slide 40: 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 41: 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 42: LIC marketing distribution - geared to recover/enhance market share
LIC marketing distribution - geared to recover/enhance market share LIC BUSINESS PERCENTAGE IN INDUSTRY BY PREMIUM¹ LIC BUSINESS PERCENTAGE IN 80 INDUSTRY BY PREMIUM¹ 73 Apr-21 80 75 71 69 68 75 74 70 May-21 Apr-22 65 62 64 70 65 65 66 67 69 68 59 60 59 59 Jun-21 65 64 May-22 60 Jul-21 60 58 Jun-22
Slide 43: LIC marketing distribution - geared to recover/enhance market share
LIC marketing distribution - geared to recover/enhance market share LIC BUSINESS PERCENTAGE IN INDUSTRY BY POLICIES¹ 81 LIC BUSINESS PERCENTAGE IN 80 77 75 INDUSTRY BY POLICIES¹ 75 73 74 74 75 72 72 69 80 75 73 74 76 70 66 Apr-21 72 69 71 71 75 64 69 69 68 Apr-22 65 70 66 May-21 60 65 May-22 Jun-21
Slide 44: 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 45: 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 user to submit documents pensioners o
Slide 46: LIC on Whatsapp
LIC on Whatsapp SERVICES CONDITIONS Eligible for portal registered users who have logged into Verified Automated portal at least once conversation Messages Ease of Streamlined customer The mobile registered in the interaction portal and the Whatsapp services mobile no. should be same WhatsApp servic
Slide 47: Empowering policyholders and agents in a digital world
Empowering policyholders and agents in a digital world Source Corporation data 46
Slide 48: 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 -1580 through speed th
Slide 49: Online service requests
Online service requests Loan payment and e-NACH repayment ULIP fund switch Change of Mode PAN data NEFT registration registration Aadhaar based change of address Source Corporation data 48
Slide 50: Modes of premium collection and percentage to total policies
Modes of premium collection and percentage to total policies 30.00% 27.01% 27.50% 25.58% 25.63% 24.92% 25.00% 23.90% 20.00% 15.00% 13.47% 11.62% 10.00% 8.83% 8.47% 5.00% 0.60% 0.53% 0.95% 0.99% 0.00% LIC Portal/APP Other Apps ¹ Bill Pay NACH & Direct Merchant Banks & Cash counter Debit Frenchisees F
Slide 51: No. of Customers
LIC customer APP users Portal registered customers Figures in Figures in App rating Lakh Lakh 4.1/ 5.00¹ 70 250 216 60 61.23 200 193.8 57.5 50 169 No. of Customers 45.4 40 150 30 100 20 10 50 0 FY21 FY22 FY23 0 FY21 FY22 FY23 Source Corporation data,.¹App Rating as on 31.03.2023 50
Slide 52: 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 53: Key Focus Areas
6 KEY FOCUS AREAS
Slide 54: 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 55: Appendix
APPENDIX
Slide 56: Highly experienced management team, distinguished Board and strong governance
Highly experienced management team, distinguished Board and strong corporate governance framework Smt. Ipe Mini Shri Siddhartha Shri Suchindra Managing Director Mohanty Misra Government Nominee Whole-time Chairperson Director Shri Tablesh Dr. Ranjan Shri Vinod Kumar Shri M Pandey Sharma Verma Jagann
Slide 57: Financials - Standalone Balance Sheet
Financials - Standalone Balance Sheet (INR lakhs) For the Year ended Particulars March 31, 2022(Standalone) March 31, 2023(Standalone) Sources of funds Shareholders' funds: Share capital 6,32,499.77 6,32,499.77 Reserves and surplus 4,04,304.56 39,49,204.86 Credit/(debit) fair value change account 4,
Slide 58: Financials - Standalone Statement of Revenue (Policyholders’ Account)
Financials - Standalone Statement of Revenue (Policyholders’ Account) (INR lakhs) For the year ended Particulars March 31, 2022(Standalone) March 31, 2023(Standalone) Premiums earned - net (a) Premium 4,28,02,497.15 4,74,66,813.63 (b) Reinsurance ceded (60,575.94) (66,352.58) Sub-total 4,27,41,921.2
Slide 59: Financials – Standalone Statement of Profit & Loss (Shareholders’ Account)
Financials – Standalone Statement of Profit & Loss (Shareholders’ Account) (INR lakhs) For the year ended Particulars March 31, 2022(Standalone) March 31, 2023(Standalone) Amounts transferred from/to the Policyholders account (Technical Account) 12,19,345.85 36,04,887.21 Income from Investments (a)
Slide 60: 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 86.49% Branch 45.00% 55.00% LIC Mutual Fund X% - Share
Slide 61: 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 62: 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 63: 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 64: Well positioned to ride the growth in a highly underinsured market
Life Insurance Penetration %age FY 2022 Insurance Density (in US$)1 FY 2022 20 9000 8433 18 17.3 8000 16 7000 14 6000 5414 12 11.6 5000 10 4234 10 8.9 3772 4000 8 7.5 2866 6.1 6.1 3000 2654 5.8 2347 6 1971 1837 3.9 2000 4 3.4 3.2 1321 1000 698 623 2 444 253 246 160 69 0 0 WELL POSITIONED TO RIDE THE
Slide 65: 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 66: Embedding ESG in our business - building a sustainable future
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 67: Embedding ESG in our business - building a sustainable future
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 68: Embedding ESG in our business - building a sustainable future
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 69: 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) 5000 4500 4471 4500 4000 3826 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
Slide 70: Awards won by LIC during 2022-23
Awards won by LIC during 2022-23 Source: Corporation data 69
Slide 71: 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 72: 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 73: 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 74: 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 — FY2023 Earnings Presentation on 6ix