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This was 4 instances 19.5 per cent of its nearest competitor China’s Ping An Insurance coverage.
Return on fairness signifies how good the corporate is in producing returns on the funding it acquired from its shareholders.
The life insurer’s draft crimson herring prospectus (DRHP) suggests it’s the eighth largest life insurer by way of belongings globally, with complete belongings of $507 billion. LIC reported a compounded annual development charge (CAGR) development of 8 per cent over FY17-21. On the finish of December 2020, solely Ping An Insurance coverage, China Life Insurance coverage Firm and Samsung Life Insurance coverage Firm had been the worldwide friends that had increased CAGR development in belongings.
LIC ranked fifth by way of internet premium earned, with a premium of $56 billion in FY21. Over a interval of 12 months ending in Calendar 2020, AXA SA ($113 billion), Ping An Insurance coverage ($110 billion), Allianz SE ($909 billion), China Life Insurance coverage Firm ($88 billion) had been the one international friends having a internet premium increased than LIC.
When it comes to development, Ping An Insurance coverage grew at a CAGR of 15 per cent over the past 4 years, adopted by China Life Insurance coverage Firm (9 per cent) and LIC (6 per cent).
Additionally, nowhere on this planet is the distinction in market share between the most important and the second largest life insurer as stark as in India, with the second largest participant having solely 8 per cent market share of GWP in comparison with LIC’s market share of 64.1 per cent by GWP for Fiscal 2021.
“LIC’s market share in India is unparalleled globally, with no different life insurance coverage participant in every other nation having fun with such a big market share,” LIC mentioned in its DRHP.
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