LIC - An Insurance Goliath Crafting Its Own Growth Path: Motilal Oswal Initiates Coverage

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Life Insurance Corporation of India has maintained its market leadership position in the life insurance industry underpinned by its strong brand, vast distribution, and superior customer-connect despite the advent of a large number of private players. During FY22, LIC accounted for 63%/46% of the total new business premium/annualized premium equivalent with a distinct focus on participating business that formed 70%/92% of individual NBP/APE, respectively, in nine months-FY22. Unlike private peers, LIC relies on its dominant agency channel (1.3 million agents, 54% of industry as of March 31, 2022) to distribute insurance products; yet it has maintained a strong control on the cost ratios. We estimate LIC to deliver ~10% compound annual growth rate in NBP during FY22-24E while the value of new business margin is likely to improve to 13.6% on improving product mix and higher profit retention. .Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

LIC - An Insurance Goliath Crafting Its Own Growth Path: Motilal Oswal Initiates Coverage

LIC - An Insurance Goliath Crafting Its Own Growth Path: Motilal Oswal Initiates Coverage

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