Mumbai:
Life Insurance Corporation of India (LIC), the country’s largest insurer, has achieved a significant milestone by moving up in the global rankings of insurers based on non-bank assets. With total assets amounting to nearly $554 billion, LIC now holds the 12th position globally, improving from the 13th spot it held last year, according to the latest list compiled by rating agency AM Best.
Despite the depreciation of the Indian rupee, LIC’s consistent growth in assets and business scale has helped it climb the rankings. The report also highlights that in terms of net premiums written, LIC has maintained its 16th position worldwide.
According to AM Best, LIC’s net premiums rose by 11% to reach $58 billion. The company continues to demonstrate strong financial performance and customer trust, further solidifying its dominance in the Indian insurance market and strengthening its global presence.
Globally, the top insurers in terms of non-banking assets are Allianz (with $1 trillion) and Ping An ($960 billion).
This achievement reflects LIC’s sustained growth, strong policyholder base, and expanding international recognition.
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