LIC turns into the world’s strongest insurance coverage model, worth reaches $9.8 billion – India TV Hindi

Life Insurance coverage Company of India (LIC), the nation’s largest insurance coverage firm, has emerged because the strongest insurance coverage model globally. In keeping with the Model Finance Insurance coverage 100, 2024 report, the model worth of LIC stays steady at US$ 9.8 billion. Additionally has a Model Power Index rating of 88.3 and an related AAA model power ranking.

Chinese language corporations dominate the listing

In keeping with a press release by Model Finance Insurance coverage, Cathay Life Insurance coverage has emerged because the second strongest model within the listing after LIC. Cathay Life Insurance coverage’s model worth has elevated by 9 % to $4.9 billion. It’s adopted by NRMA Insurance coverage, whose model worth has elevated by 82 % to $1.3 billion. In keeping with the assertion, China’s insurance coverage manufacturers have maintained their dominance within the world rankings. The Ping An model led the best way with a 4 % enhance in worth to $33.6 billion. After this, China Life Insurance coverage and CPIC are at third and fifth place respectively.

The nation’s largest authorities firm

LIC India achieved highest first yr premium assortment of Rs 39,090 crore in FY 2022-23, whereas SBI Life Insurance coverage and HDFC Life Insurance coverage led the non-public sector by attaining new premium collections of Rs 15,197 crore and Rs 10,970 crore respectively . The federal government had accepted a 17 % pay revision for LIC workers with impact from August, 2022, benefiting greater than 1,10,000 workers. Shares of LIC additionally hit an all-time excessive of Rs 1,175, making it India’s most respected public sector enterprise (PSU) and regaining its place because the fifth most respected Indian listed firm by overtaking SBI in market valuation. Took.

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