LIC Has Assets Of $ 463 Billion, Largest Asset Manager In India

LIC has assets of $ 463 billion, this is more than the GDP of many economies.

With LIC’s assets at $463 billion, it is more than the GDP of many economies. It is ranked 5th globally in terms of GWP and 10th globally in terms of total assets.

Its assets are 1.1 times more than the entire Indian MF industry i.e. Rs 31.4 trillion (as of March 31, 2021).

The assets of LIC are 16.3 times the AUM of India’s second-largest private insurer i.e. SBI Life. LIC holds 4 percent of the total NSE market cap.

LIC is the largest asset manager in India with 36.7 trillion AUM. LIC’s AUM on a standalone basis was equivalent to 18 percent of India’s GDP for FY 2011.

Notably, LIC has been offering life insurance in India for more than 65 years.

It is the largest life insurer in India in terms of Gross Written Premium (GWP), with a market share of 64.1 percent, with a market share of New Business Premium (NBP).

LIC is ranked 5th globally in terms of life insurance GWP and 10th globally in terms of total assets (compare LIC’s assets as of March 31, 2021, with assets of other life insurance companies as of December 31, 2020).

LIC is the largest asset manager in India as of March 31, 2021, with an AUM (investment of policyholders, investment of shareholders, and assets held to cover linked liabilities) of approximately Rs 36.7 trillion on a standalone basis.

LIC’s investment inequities in India stood at 7.62 percent of the outstanding (non-promoter market cap in India) as of September 30, 2021.

As of September 30, 2021, LIC’s individual products portfolio in India consisted of 32 individual products, and its group product portfolio in India consisted of 10 group products, including one group of microinsurance products.

Clear the way for setting up a gold exchange, vault manager to act as an intermediary of SEBI

Capital markets regulator SEBI has notified vault management rules. Under this, stock exchanges will be allowed to set up gold exchanges in the country.

SEBI’s board had earlier approved the proposal to set up a gold exchange in September last year.

Finance Minister Nirmala Sitharaman, while presenting the budget for 2021-22, had said that SEBI will be the regulator of the gold exchange.

Trading of gold on the gold exchange will be done in the form of an Electronic Gold Receipt (EGR).