Worlds Top Valuable Insurance Brands: The largest company in the insurance sector, Life Insurance Corporation of India i.e. LIC has emerged as a strong insurance company globally. According to the Brand Finance Insurance 100, 2024 report, LIC’s brand value is stable at $9.8 billion.
Worlds Top Valuable Insurance Brands
The largest company in the insurance sector, Life Insurance Corporation of India i.e. LIC has emerged as a strong insurance company globally. According to the Brand Finance Insurance 100, 2024 report, LIC’s brand value is stable at $9.8 billion.
According to a statement by Brand Finance Insurance, Cathay Life Insurance is the second strongest brand after LIC. Cathay Life Insurance’s brand value rose nine percent to $4.9 billion. Next is NRMA Insurance, whose brand value grew by 82 percent to $1.3 billion.
According to the statement, China’s insurance brands have maintained their dominance in global rankings. The value of the Ping An brand increased by four percent to $33.6 billion. After this, China Life Insurance and CPIC are ranked third and fifth respectively.
LIC’s premium collection of Rs 39,090 crore
LIC India achieved the highest first-year premium collection of Rs 39,090 crore in FY 2022-23, while SBI Life Insurance and HDFC Life Insurance recorded Rs 39,090 crore respectively. 15,197 crore and Rs. 10,970 crore in new premium collections.
LIC shares at all-time high
The government had approved a 17 percent pay revision for LIC employees from August 2022, benefiting over 1,10,000 employees. LIC’s shares also touched an all-time high of Rs 1,175, making it India’s most valuable public sector undertaking (PSU) company.
According to a report, 29 crore people in the country had a policy with LIC in 2019. As of 15 October 2005, LIC had crossed the mark of issuing 1,01,32,955 new policies.
LIC Network
Today LIC is doing business with 2048 Branch Offices, 113 Divisional Offices, 8 Zonal Offices, 1381 Satellite Offices.
Also read this:
