ONE OF THE mega events in 2022 for the stock markets was the listing of Life Insurance Corporation of India (LIC). It was not the first time that an insurance company had got listed in India, but what created the euphoria and excitement around it was the sheer size and scale of its operations. Consider this: The behemoth insurer alone had assets under management worth ₹41 lakh crore in FY22, which is more than the current (October) market size of the entire mutual fund industry of ₹39.50 lakh crore. Not to mention, it has a huge policyholder (lives insured) base of 280.7 million, 1.33 million agents and 104,036 employees spread across the length and breadth of the country.
Therefore, when the government announced its plans to list LIC, one question everyone had was how the company would unlock its huge value. The size of the company was one challenge but at the same time, dealing with the complexities of the insurance business was another. Finally, following analysts’ meets and road shows across the country, the government-owned insurer listed 3.5 per cent of its equity on May 17, 2022, which made it one of the most valuable companies after Reliance Industries, TCS, Infosys and HDFC Bank, among others.
Esta historia es de la edición December 11, 2022 de Business Today India.
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Esta historia es de la edición December 11, 2022 de Business Today India.
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