Home Business IPO-Bound LIC’s GRP Grows 13 Per Cent In FY21-22 | Check Details Here

IPO-Bound LIC’s GRP Grows 13 Per Cent In FY21-22 | Check Details Here

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Mumbai: IPO-bound Life Insurance coverage Company of India (LIC) recorded a 12.66 per cent improve in GRP in FY21-22 at Rs 1,43,938.59 crore in opposition to Rs 1,27,768.06 crore for the FY20-21.

Throughout 2020-21, the person non-single premium rose 8.82 per cent to Rs 30,015.74 crore from Rs 27,584.02 crore as of finish of March 2021. The whole first yr premium (FYP) of the life insurer rose by 7.92 per cent to Rs 198,759.85 crore as in comparison with Rs 184,174.57 crore within the earlier fiscal yr.

LIC offered 41 insurance policies per minute in India.

Particular person single premiums elevated by 61 per cent to Rs 4,018.33 crore for the month of March 2022, in comparison with Rs 2,495.82 crore in the identical corresponding interval final fiscal yr. Whereas, the Group Single Premiums elevated by 48.09 per cent to Rs 30,052.86 crore for the month of March 2022, in comparison with Rs 20,294.02 crore in March 2021. The LIC GRP’s progress elevated by 59.50 per cent in comparison with the earlier yr.

The market share of LIC stood at 63.25 per cent in whole first yr premium for FY21-22. In First 12 months Premium, market share of LIC was 70.99 per cent for the month of March 2022 over 63.68 per cent for the month of March 2021.

The variety of insurance policies offered elevated by 3.54 per cent to 21,718,695 within the FY21-22 from 20,975,439 within the earlier monetary yr. The insurer offered 4,896,019 insurance policies for the month of March 2022 in opposition to 4,667,952 polices for the month of March 2021, an increase of 4.89 per cent.

LIC, which is predicted to hit the capital market with an IPO within the first quarter this fiscal yr, has an embedded worth of Rs 5,39,686 crore as on 30 September 2021, in line with the draft pink herring prospectus, whereas the federal government plans to promote 316,249,885 fairness shares.

Enterprise Outcomes At A Look

New enterprise assertion of life insurers for the interval ended 31.3.2022 (complete fiscal yr)

Whole FYP  – for FY22 (general)

Trade has an entire Rs 3,14,262 cr (premium) with progress of 12.93%

LIC 1,98,759.85 cr (premium) with progress of seven.92% and market share of 63.25%

Pvt Insurers: Rs 1,15,502.57 crore with progress of twenty-two.74% and market share of 36.75%

Whole Numbers of Insurance policies – for FY22 (general)

Trade has an entire 2,91,55,178 with a progress of three.51%

LIC: Rs 2,17,54,965 with progress of three.56% and market share of 74.62%

Pvt Insurers: Rs 74,00,213 with progress of three.35% and market share of 25.38%

Whole Numbers of Particular person New Enterprise

Trade has an entire Rs 1,25,257.84 crore

LIC: Rs 54,821.27cr with a market share of 43.77 %

Pvt Insurers (complete trade), Rs 70,436.59 cr with a Market Share of 56.23 %

Whole Group Insurance coverage Enterprise

Trade has an entire Rs 1,89,004.57 cr

LIC: Rs 1,43,938.9 cr with a market share of 76.16%

Pvt insurers: Rs 45,065.99 cr with market share of 23.84%

Particular person Gamers (Progress) – FY’22

High 5 Pvt Insures in premium:

1) SBI life Rs 25,458.29 cr with a market share of 8.1%

2) HDFC, Rs 24,301.07cr with a market share of seven.73%

3) ICICI,  Rs  15,035.52 cr with a market share of 4.78%

4) Bajaj,  Rs 9,135.82cr with a market share of two.9%

5) Aditya Birla, Rs 5,665.33cr with a market share of 1.8%

Vs

6) LIC Rs 1,98,759.85 cr (premium) with progress of seven.92% and market share of 63.25%

ONLY FOR MARCH 2022: New enterprise assertion of life insurers for the interval solely March 2022 (complete March)

Whole FYP – solely March 2022

Trade has an entire Rs 59,608 cr (premium) with progress of 37.29%

LIC Rs 42,319.22 cr (premium) with progress of fifty.57% and market share of 70.99%

Pvt Insurers (complete trade),  Rs17,289 cr with progress of 12.92 % and market share of 29.01%

Whole Numbers of Insurance policies –  solely March 2022

Trade has an entire 60,35,985 with progress of 4.68%

LIC 49,00,661 with a progress of 4.88 % and market share of 81.19%

Pvt Insurers (complete trade), 11,35,324 with a progress of three.82% and market share of 18.81%

Whole Numbers of Particular person New Enterprise (in March 2022)

Trade has an entire Rs 20,541.89 crore

LIC, Rs 9,519.45 crore with a market share of 46.34%

Pvt Insurers: Rs 11,022.45 cr with a market share of 53.66 %

Whole Group Insurance coverage Enterprise

Trade has an entire Rs 39,066.93 cr

LIC Rs 32,799.77 cr with a market share of 83.96%

Pvt Insurers: Rs 6,267.16 cr with market share of 16.04%

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