What has LIC’s market share performance been like in the fiscal year 2019-20?
Answer
Answer
LIC reported that it sold a record 2.19 crore policies in FY 2019-20 despite disruptions caused by COVID-19. LIC also registered a growth of 25.17% in new business in terms of first year premiums. In terms of first year premiums, LIC captured a market share of 68.74%.
In terms of number of policies sold, LIC had a market share of 75.90%. Currently LIC has an asset base of Rs.31.96 trillion. LIC IPO is expected to hit the market this fiscal with the government selling approximately 10% stake to raise Rs.110,000 crore.