A LITTLE INFO. ABOUT LIC OF INDIA Life Insurance Corporation of India ( LIC ) is an Indian statutory insurance and investment corporation headquartered in the city of Mumbai , India. It is under the ownership of Government of India . Financial Year Revenue (In crores) [17] Profits/Loss (In crores) [18] Total Assets (In crores) FY 2019 571,508 2,627 3,427,249 FY 2020 628,043 2,710 3,499,834 FY 2021 693,904 2,974 3,829,524 LIC reported 290 million policy holders as of 2019, a total life fund of ₹28.3 trillion and a total value of sold policies in the year 2018–19 of ₹21.4 million. The company also reported to have settled 26 million claims in 2018–19. Holdings LIC invests in sectors such as banks, cement, chemicals and fertilizers, electricity and transmission, electrical and electronics, engineering, construction and infrastructure, fast-moving consumer goods, finance and investments, healthca
LIC vs private insurers: How LIC fares in premiums, expenses from its peers? While LIC premiums are higher, it also has a higher commission ratio as mainly sells through an army of agents. Private players rely on bancassurance and online channels to keep costs low. LIC, which has nearly two thirds of market shares, fairs well in agent productivity and in cost to premium ratio. the insurance has the highest commission- to- premium ratio of 5.5% against the median of 4.4 of the top five private players.