Life Insurance Corp. Of India · NSE:LICI
Life Insurance Corp. Of India — Life Insurance Corporation of India — Analysts/Institutional Investors Meet August 12, 2024
78 slides from Life Insurance Corp. Of India's conference presentation, Aug 9, 2024
Slide 1: Regulation 30 disclosure cover letter
Ref. No.: LIC/SE/2024-25/74 Date: August 09, 2024 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 Mumb
Slide 2: Corporate Presentation August 9th 2024
CORPORATE PRESENTATION August 9th 2024
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: 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 6: Unmatched Scale - Largest Life Insurer in India
Unmatched Scale - Largest Life Insurer in India Market leadership Scale Distribution & Customer ~2.04 crore 14.42 FY24 Individual policies sold ~ 2,22,642 crore ~14.14 lakhs FY24 NBP Agents (Mar-24) Policies sold per agent for FY24 9.02x 48.87% of 2nd largest life insurer3 58.47% Significantly highe
Slide 7: 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 Chief Executive Officer & Government Nominee Shri M Jagannath Shri Tablesh Pandey Managing Director Managing Director Managing Director Director Shri Sat Pal Bhano
Slide 8: 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 9: Awards & Accolades
Awards & Accolades 8 Source: Corporation data as on 31.03.2024.
Slide 10: II Financial and Business Highlights
II FINANCIAL AND BUSINESS HIGHLIGHTS
Slide 11: Business performance parameters FY24
Business performance parameters FY24 Amount INR Crore FY24 INR 4,75,070 Cr FY24 INR 1,71,302 Cr Total Group Business Total Premium Income 0.22% -5.48% Premium FY23 INR 4,74,005 Cr FY23 INR 1,81,242 Cr FY24 INR 57,716 Cr FY24 58.87% Individual New Business Market Share in -3.71% -1.77% Premium Premiu
Slide 12: Business performance parameters FY24
Business performance parameters FY24 Amount INR Crore FY24 INR 35,099 Cr FY24 INR 6,30,114 Cr Weighted Received Total New Business Sum Premium - 1.42% - 9.42% FY23 INR 35,605 Cr Assured FY23 INR 6,95,645 Cr FY24 8,29,318 FY24 22,625 Cr Total Number of Death Claims (Individual) - 8.72% Total Death Cl
Slide 13: Financial performance parameters FY24
Financial performance parameters FY24 Amount INR Crore FY24 INR 40,675.79Cr FY24 98.15% Claim Paid Ratio Death -0.37% Profit After Tax¹ FY23 INR 36,397.40 Cr FY23 98.52% (Absolute) FY24 1.98 FY24 2,03,92,973 +0.11 Number of Policies sold -0.18% Solvency FY23 1.87 (Absolute) (Individual) FY23 2,04,28
Slide 14: Performance ratios FY24
Performance ratios FY24 FY24 8.93% +0.64% FY24 8.02% Yield on Investment Yield on Investment + 1.54% (Policyholders Fund)² FY23 8.29% (Absolute) (Shareholders Fund)² FY23 6.48% (Absolute) FY24 2.01% FY24 89.84% -0.55 % - 1.83% Total Gross NPA Ratio¹ Conservation Ratio FY23 2.56% (Absolute) FY23 91.6
Slide 15: Business performance parameters Q1FY25
Business performance parameters Q1FY25 Amount INR Crore Q1FY25 INR 1,13,770 Cr Q1FY25 INR 46,578 Cr Total Group Business Total Premium Income +15.66% +30.87% Premium Q1FY24 INR 98,363 Cr Q1FY24 INR 35,590 Cr Q1FY25 INR 11,892 Cr Q1FY25 64.02% Individual New Business Market Share in +2.6% +13.67% Pre
Slide 16: Business performance parameters Q1FY25
Business performance parameters Q1FY25 Amount INR Crore Q1FY25 INR 6871 Cr Q1FY25 INR 1,06,649 Cr Weighted Received Total New Business Sum Premium +8.70 % +6.22% Q1FY24 INR 6,321 Cr Assured Q1 FY24 INR 1,00,400 Cr Q1FY25 1,86,667 Q1FY25 5,467 Cr Total Number of Death Claims (Individual) - 0.75% Tota
Slide 17: Financial performance parameters Q1FY25
Financial performance parameters Q1FY25 Amount INR Crore Q1FY25 INR 10,461 Cr Q1FY25 95.31% +1.54% Profit After Tax¹ +9.61% Claim Paid Ratio Death Q1 FY24 INR 9,544 Cr Q1FY24 93.77% (Absolute) Q1FY25 1.99 +0.10 Number of Policies sold Q1FY25 35,65,519 +10.86% Solvency Q1FY24 1.89 (Absolute) (Individ
Slide 18: Performance ratios Q1FY25
Performance ratios Q1FY25 Q1FY25 8.54 % -0.24% Q1FY25 6.30% Yield on Investment Yield on Investment -0.34% (Policyholders Fund)² Q1 FY24 8.78 % (Absolute) (Shareholders Fund)² Q1 FY24 6.64 % (Absolute) Q1FY25 1.95% Q1FY25 93.35% -0.53% +0.37% Total Gross NPA Ratio¹ Conservation Ratio Q1 FY24 2.48% (
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 (FY24) Breakup by no. of policies (FY24) Non- Par Non- Par Non Par NB Par Non Par Particulars share Particulars Par NBP share (# policy) 58.02% Term 0.29 % 92.51% Term 0.27 % Health Insurance 0.07% He
Slide 20: Group Business Segment
Group Business Segment New Business Premium INR in Crore Market Share ( by premium) 1,73,258 76.65% 1,64,926 72.30% FY23 FY24 FY23 FY24 FY23 FY24 FY23 FY24 New Business Premium Market Share ( by premium) 76.59% 72.50% Q1FY24 Q1FY24 Q1FY25 45,570 Q1FY25 34,398 Q1FY24 Q1FY25 Q1FY24 Q1FY25 Source: Corp
Slide 21: Share of women in policies issued
Share of women in policies issued Rising Share of women in policies sold¹ In 15 States/UTs, the share in number of policies bought by women to the total policies sold was higher than the all-India average of 34.2%² 44% 44% Top 5 and bottom 5 states/UTs 43% 43% 42% 30% 30% 28% 27% 23% Out of the tota
Slide 22: III Product, Customer Franchise and Distribution Reach
III PRODUCT, CUSTOMER FRANCHISE AND DISTRIBUTION REACH
Slide 23: Cross cyclical and comprehensive life insurance solutions
Cross cyclical and comprehensive life insurance solutions Comprehensive Product Portfolio 16 Participating products 25 Non Participating Products (Including four Annuity Products) 11 Group products (incl. one credit life and one annuity product)¹ 8 Riders LIC’s Group Post-Retirement Medical Benefit,
Slide 24: 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.
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 Premium points +2,746 MICRO 14.25¹ lacs Agents exclusive to LIC 40,007³ Insurance Premium Points 83 2 Corporate Agents 280 Brokers 153 Insurance Marketing Firms 36 Covering 92% districts vs
Slide 26: Enhancing focus on building Omni-channel distribution network
Enhancing focus on building Omni-channel distribution network Snapshot of vast distribution capabilities of LIC Distribution mix by Individual NBP (%) Individual NBP sourced in India via the banca channel (INR Crore) FY 23 Particulars Others +02.90% Banca 3.44 % 2,019.9 2,078.4 Digital Marketing 0.1
Slide 27: Enhancing focus on building Omni-channel distribution network
Enhancing focus on building Omni-channel distribution network Snapshot of vast distribution capabilities of LIC Distribution mix by Individual NBP (%) Individual NBP sourced in India via the Banca & Alt channel (INR Crore) Q1FY 24 Particulars Others 411.3 +22.27% Banca & Alt 3.22 % 336.4 Digital Mar
Slide 28: Feet on Street – LIC’s Core Distribution Strength
Feet on Street – LIC’s Core Distribution Strength Organizational Structure Agents Training Infrastructure CO 2.18% Employees Office 8 Zonal Training Centers 8 Zonal Office 2.99% Employees 35 Sales Training Centers 113 Divisional Office² 13.86% Employees 113 Divisional Training Centers 2,130 Branch O
Slide 29: Agents’ training
Agents’ training Training in Sales Training 1,789 Agents fulfilling the MDRT Total number of training criteria¹ Centres and Zonal infrastructure - 732 Training Centres – 82,546 Total 1,02,157 agents trained in 80% 78.92 % Agents recruited within Q1FY25 the 18-40 years age group Imparted training to
Slide 30: Robust agency force
Robust agency force Largest agency force # Agents in lacs 14.80 15.05 14.15 14.25 13.47 12.81 12.09 10.70 Higher Vintage: 54.98% > 5 Years FY20 FY23 FY24 Q1FY25 Others LIC LIC has dominant agency force – 48.64% of life insurance Industry. Source: Corporation data and life council data as on 30.06.20
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 18-30 yrs 54.98% 12% 12% 31-35 yrs 45.02% 11% 51-60 yrs 23% 36-40 yrs 13% 41-50 yrs Up to 5 Yea
Slide 32: Differentiated business model with deep competitive moats
Differentiated business model with deep competitive moats Geographic Distribution of Individual Agents (%) 59.40% 51.84% 48.16% 40.60% Q1FY24 Q1FY25 Rural Urban Pan India presence of Agents which shows our feet on street Source Corporation data as on 30.06.2024 31
Slide 33: Customer care – at our core philosophy
Customer care – at our core philosophy Settled total death claims of Rs. 22,625 crore in FY24 as against Rs. 23,423 crore in FY23. Claim paid ratio (Death) in FY24 is 98.15% by number as against 98.52% in FY23. The number of policyholders complaints per 10,000 policies sold in FY24 is 39.75.
Slide 34: IV Actuarial Metrics
IV ACTUARIAL METRICS
Slide 35: Indian Embedded Value (IEV)
Indian Embedded Value (IEV) Embedded Value (INR Crore) 7,27,344 6,62,605 5,82,243 5,39,686 5,41,492 5,44,291 Sep-21 Mar-22 Sep-22 Mar-23 Sep-23 Mar-24 Source: Corporation data, . For reporting as at 31.03.2024, IEV and other related metrics have been reviewed by BDO. 34
Slide 36: INR in Crore
INR in Crore 35 Source: Corporation Data, Figures may not add up to total due to rounding off. Future charge of INR 12,914 crores to shareholder’s fund over a period of 3 years starting from FY 2024-25, towards excess of expenses over allowable limits as per regulatory approval.
Slide 37: Build up of Embedded Value
Build up of Embedded Value INR in Crore Components March 2023 March 2024 A. Adjusted Net Worth (ANW) 46,115 69,443 B. Value of in-force (VIF) Business 5,36,128 6,57,902 C. Indian embedded value (IEV) (C=A+B) 5,82,243 7,27,344 Source: Corporation data. Figures may not add up due to rounding. 36
Slide 38: Analysis of movement in IEV
Analysis of movement in IEV Components FY 2024 (INR in Crore) Opening IEV 5,82,243 Expected return on Existing Business At Reference Rate 41,861 At Expected ‘real – world’ return in excess of Reference rate 10,337 Operating assumptions change 4,829 VoNB added during the period 9,583 Operating Experi
Slide 39: Sensitivity analysis
Sensitivity analysis Change in Change in New Sensitivity – Scenarios Indian Embedded Business Margin Value (Percent Points) For the Year End 3/2024 3/2024 Base results (INR in Crore) 7,27,344 16.8% An increase of 100 bps in the reference rates (0.4%) 4.2% Reference rates A decrease of 100 bps in the
Slide 40: Annualized Premium Equivalent (APE)
Annualized Premium Equivalent (APE) INR Crore Year on Year Q on Q Line of Business FY23 FY24 Growth Q1FY24 Q1FY25 Growth A Individual Par 35,231 31,392 (10.90) % 5,342 5,132 (3.93)% B Individual Non Par¹ 3,436 7,041 104.94% 608 1,615 165.63% 1 Individual Saving 516 3,812 638.84% 102 788 672.55% 2 Pr
Slide 41: 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 (FY23) Breakup of Individual APE (FY24) Non- Par Non- Par 91.11% 8.89% 81.68% Par 18.32% Par Breakup of Individual APE (Q1FY24) Breakup of Individual APE (Q1FY25) Non- Par 89.78% 10.22%
Slide 42: Value of New Business (VNB)
Value of New Business (VNB) Amounts INR crore LIC of India FY23 FY24 Net VNB1 9,156 9,583 Net VNB Margin 16.2% 16.8% Individual Business1 Group Business1 FY23 FY24 FY23 FY24 Net VNB 5,986 7,238 Net VNB 3,170 2,345 Net VNB Margin 15.5% 18.8% Net VNB Margin 17.6% 12.6% Par Business1 Non-Par Business²
Slide 43: Value of New Business (VNB)
Value of New Business (VNB) Amounts INR crore LIC of India Q1FY24 Q1FY25 Net VNB1 1,302 1,610 Net VNB Margin 13.7% 13.9% Individual Business Group Business Q1FY24 Q1FY25 Q1FY24 Q1FY25 Net VNB 804 1,047 Net VNB 498 563 Net VNB Margin 13.5% 15.5% Net VNB Margin 13.9% 11.7% Par Business Non-Par Busines
Slide 44: VNB Walk
VNB Walk Source: Corporation Data 43
Slide 45: Improvement in Persistency Ratios
Improvement in Persistency Ratios On No. of Policies Basis - Improvement in 13th, 25th month and 49th month Persistency ratio by # policies 64.28% 66.99% 56.97% 57.47% 56.90% 52.50% 51.05% 53.23% 49.86% 48.59% 13th Month 25th Month 37th Month 49th Month 61st Month FY23 FY24 On Premium Basis – Improv
Slide 46: Improvement in Persistency Ratios
Improvement in Persistency Ratios Persistency ratios largely maintained despite increasing competition Persistency ratio by # policies 66.15% 67.81% 59.28% 59.24% 57.72% 54.73% 52.04% 54.08% 50.79% 49.39% 13th Month 25th Month 37th Month 49th Month 61st Month Q1FY24 Q1FY25 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 Change of Nomination & 7 PAYMENT RELATED 2 POLICY RELATED Assignment 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 transaction) 28.41% 27.01% 25.63% 24.34% 23.90% Other App includes: 22.78% Amazon Pay ,Bajaj Finserv, CRED, Free Charge, GPay , InstaPay, JustDial, Mobikwik, PhonePe and
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 2 crore customers opted/enabled until Streamlined March-24 Ease of customer interaction services Uptrend in LIC customer APP users Rising website registe
Slide 51: Strengthening Digital Process – Empowering Policyholders
Strengthening Digital Process – Empowering Policyholders AI Chat Bot 1. Policy Status Application to 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 Digital App for Agents to process New Business digitally customers 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
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 14 of the 17 SDGs 49.04% agents in India reside in rural areas “Bima Gram” ini
Slide 57: 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 14 of the 17 SDGs Support to various other sanitation projects by LIC GJF. C
Slide 58: 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 14 of the 17 SDGs Outstanding investments worth INR 14.1bn¹ in renewable energy
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) 6,575 5,454 4,471 3,826 3,376 2,856 2,966 3,141 2,254 2,051 2,024 1,812 FY 2019 FY 2020 FY 2021 FY 2022 FY2023 FY24 FY 2019 FY 2020 FY 2021 FY 2022 FY2023 FY2024
Slide 60: VII Way Forward
VII WAY FORWARD
Slide 61: Strategy – Key Focus Areas
Strategy – Key Focus Areas #1I. Focus on Enhancing Market Share – across categories. #2I. Diversify Product Mix – enhancing Non Par Share within individual business. #3I. Launch new products to plug any gap in product portfolio. #4I. Maintain focus on agency channel while developing the Banca and al
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 2022 2023E 2024P 2025P India 7.4 8 8.3 7 6.1 4.2 -8 9 7.2 6.7 6.5 6.5 China 7.3 6.9 6.8 6.9 6.7 6 2.3 8.1 3.0 5.2 4.6 4.1 Japan 0.4 1.2 0.5 2.2 0.3 0.3 -4
Slide 64: Share of life insurance in incremental household financial saving
Share of life insurance in incremental household financial saving 120.00% 100.00% 9.75% 10.29% 13.22% 10.41% 12.25% 9.46% 6.72% 6.70% 2.09% 6.02% 2.65% 6.15% 80.00% 12.45% 7.99% 12.28% 12.16% 10.32% 23.57% 16.18% 21.07% 60.00% 17.86% 19.48% 21.13% 17.96% 18.26% 16.88% 14.25% 18.18% 40.00% 18.22% 16.
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 FY 2022 Insurance Density (in US$)1 FY 2022 18 9000 16.7 8007 16 8000 14 7000 6074 12 6000 10 5000 9.1 8.2 8.1 8 7.4 4000 3669 5.9 5.5 3000 2730 2656 6 5.4 2239 2017 1942 3.7 3.4 2000 1705 4 3 1182 2 1000 614 609 432 255 235 184 70 0 0 WELL POSITIONED TO RIDE THE GROW
Slide 67: Household savings to increase
Household savings to increase Household Savings (% of GDP) 30.00% 25.20% 25.00% 23.60% 23.10% 23.60% 22.70% 22.40% 22.50% 20.30% 19.60% 19.30% 20.30% 20.21% Household 20.00% 19.10% 18.00% 18.10% 18.22% saving as percentage 15.00% of GDP is 18.22% in fiscal year 10.00% 2023 5.00% 0.00% FY08 FY09 FY10
Slide 68: 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 69: 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 70: Strong growth in total premium for life insurance industry
Strong growth in total premium for life insurance industry 9000 16% 8000 7825 14% 14% 13% 13% Total premium 6926 7000 has grown in the 12% 12% 11% 6287 range of 10% to 6000 5729 14% in last eight 10% 10% 10% 5081 10% years. Amongst 5000 4588 the different 4185 8% player groups, 4000 3669 LIC, which
Slide 71: (b) Financials
(b) FINANCIALS
Slide 72: Financials - Standalone Balance Sheet
Financials - Standalone Balance Sheet (INR lakhs) For the Year ended For the three months ended Particulars March 31, 2023(Standalone) March 31, 2024(Standalone) June 30, 2023(Standalone) June 30, 2024(Standalone) Sources of funds Shareholders' funds: Share capital 6,32,499.77 6,32,499.77 6,32,499.7
Slide 73: 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, 2023(Standalone) March 31, 2024(Standalone) June 30, 2023(Standalone) June 30, 2024(Standalone) Premiums earned - net (a) Premium 4,74,66,813.63 4,75,
Slide 74: 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, 2023(Standalone) March 31, 2024(Standalone) June 30, 2023(Standalone) June 30, 2024(Standalone) Amounts transferred from/to the Policyholders 36,
Slide 75: 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 76: 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 77: 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 78: 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 — Analysts/Institutional Investors Meet August 12, 2024 on 6ix