Life Insurance Corporation of India Overview
Pro stress-test →Life Insurance Corporation of India (LIC) is an Indian public sector life insurance company headquartered in Mumbai. LIC is the largest insurance provider company in India with a market share of above 66.2% in new business premium. The company is India's largest life insurer and world's 3rd strongest Insurance brand as per Brand Finance Global 500 2025 report.
Strategic Profile
Pro stress-test →LIC offers participating insurance products and non-participating products like unit-linked insurance products, saving insurance products, term insurance products, health insurance, and annuity & pension products. As of March 2025, the company serves as India's largest institutional investor with total assets under management worth ₹54.52 lakh crore (US$640 billion). Digital initiatives, particularly the ANANDA agent app, supported operational efficiency, recording a 49.42% YoY growth in policies sold through the app.
Competitive Landscape
Pro stress-test →India's life insurance market is liberalized with private competitors including ICICI Prudential, HDFC Life, Axis Life, and SBI Life Insurance. LIC maintains dominant 66.2% market share in new business premium, making it the unequivocal market leader despite competitive pressures from well-capitalized private insurers with strong digital capabilities.
Industry Context
Life Insurance Corporation of India operates in Life Insurance.
Key facts
Founded: 1956 · Headquarters: Mumbai, India · Employees: 1472370 agents · Revenue: $98.63B (FY2022) · Market cap: $65B