LIC Moves Up in Global Insurance Rankings with $554 Billion in Assets
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 […]
LIC’s Claim Settlement Rate Outshines Peers
The Life Insurance Corporation of India (LIC) has reported a claim settlement ratio of 98.5% as of March 31, 2023, according to the Insurance Regulatory and Development Authority (IRDA) annual report. This is slightly lower than the previous year’s 98.7%, yet higher than most private sector insurers, which averaged around 98%. For group life insurance, […]