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LIC IPO Online Apply

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 LIC was incorporated in 1956 by the amalgamation of 245 private insurers and private fund societies. In 2000, 26% FDI in the insurance sector was allowed, which has now been increased to 74%. The company held a monopoly over the insurance sector till the 1990s after which many private players rose. Even thought there are 23 private insurers in the market, LIC still holds more than 74.58% market share as of 31 March, 2021. 

LIC has around 2,048 branches all over the country and as per their latest report, they have 8 zonal offices in India in Delhi, Chennai, Mumbai, Kolkata, Kanpur, Patna, Bhopal and Hyderabad. They also have 113 Divisional offices, 1,178 mini offices and 1,526 Satellite offices. 

The company has also made efforts to improve its asset quality ahead of the IPO. The percentage of gross NPA went down from 8.17% in FY20 to 7.78% in FY21. Rs.34,934.97 crore has been put aside for doubtful debts and loss assets.


Key Points

Strengths:

1.The LIC agent’s network is enviously huge. As of 31 March, 2021, the company states that they had around 13.53 lakh individual LIC agents, as compared to the 11.01 lakh agents for a total of 20 private life insurers

2.LIC has diversified its business and has also forayed into – LIC Housing Finance, LIC Mutual Fund, LIC Pension Fund, LIC Cards Services. Along with this, LIC also acquired IDBI bank in 2019

3.They directly operate their foreign branches which are situated in Fiji, Mauritius and United Kingdom


Apply Now:-

https://www.5paisa.com/open-demat-account/?referralcode=58571107 



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