THE LIFE INSURANCE sector has faced a challenging year, with leading companies—including Life Insurance Corporation of India (LIC), HDFC Life Insurance Company and ICICI Prudential Life Insurance Company—witnessing a slump in their average market capitalisation.
LIC, which dominates the segment, saw its average market cap decline by about 10.8 per cent (from â¹4.42 lakh crore to â¹3.84 lakh crore) for the period of the BT500 study, while HDFC Life’s market cap dropped by 1.3 per cent (from â¹1.25 lakh crore to â¹1.23 lakh crore) and ICICI Pru Life’s by 11.4 per cent (from around â¹79,000 crore to about â¹70,000 crore), per this year’s BT500 list.
Among the top firms, SBI Life Insurance alone saw its market cap grow. Its average market cap increased by about 5.4 per cent (from â¹1.16 lakh crore to â¹1.23 lakh crore). Market capitalisation refers to the overall value of a company’s shares.
This is reflected in the ranking on the BT500 2023 list. LIC fell to No. 11 from No. 9 last year, HDFC Life slipped to No. 41 from No. 39, and ICICI Pru dropped to No. 74 from No. 59. SBI Life, meanwhile, climbed one spot to 42 from 43 last year.
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