At $8.65 billion, LIC 10th most valued insurance brand globally: Report (2024)

FAQs

Which is the 10th most valuable insurance brand globally? ›

Check below the list of the top 10 strongest insurance brands globally as released by Brand Finance. India's LIC (brand value steady at USD 9.8 billion) has become the strongest insurance brand, with a brand strength index score of 88.3 and associated AAA brand strength rating.

LIC emerges as the strongest global insurance brand with a steady brand value of USD 9.8 billion. Chinese brands dominate the rankings, with Ping An leading. LIC India achieves the highest premium collection, while recent wage revision benefits over 110,000 employees.

The Brand Finance Insurance 100 2024 report notes that LIC's brand value remains steady at USD 9.8 billion, accompanied by a brand strength index score of 88.3 and an associated AAA brand strength rating.

We are thrilled to announce that LIC of India ranked 23rd in the list of '25 Strongest Global Brands' as per the latest Brand Finance Report 2024.

Life Insurance Corporation of India (LIC) is termed as the strongest insurance brand with a steady brand value of $9.8 billion, a brand strength index score of 88.3, and an associated AAA brand strength rating, notes a report by Brand Finance Insurance 100 2024.

LIC's assets are 16.3 times the AUM of the second largest private insurer in India, i.e. SBI Life. 4 per cent of total NSE market cap is held by LIC. LIC is the largest asset manager in India with Rs 36.7 trillion AUM. LIC's AUM on a standalone basis was equal to 18 per cent of India's GDP for FY21.

low income countries (LIC) - these are countries with a GNI per capita. of $1,045 or less, eg Chad and Ethiopia. medium income countries (MIC) - these are countries with a GNI per capita of more than $1,045 but less than $12,695, eg Mexico and Iraq.

Ans: Yes, NRI's living abroad are eligible to buy LIC Policy. Also, Foreign Nationals of Indian Origin, People of Indian Origin, and Green Card Holders can buy a LIC policy.

How can I know my LIC policy value? ›

To check the updates through SMS, one can type "ASKLIC" followed by the policy number and SMS it to the phone number 56767877 made available by the Corporation. "ASKLIC<Policy Number>AMOUNT." All of the queries mentioned above can be resolved by sending the SMS code to the same number, that is, 56767877.

The loan amount is given on the basis of the surrender value of the LIC policy. The maximum loan amount that can be availed will be up to 90% of the surrender value. The maximum loan amount is 85% of the surrender value for a paid-up policy. This includes the cash bonus that may be applicable to the policy.

It is India's largest insurance company as well as the largest institutional investor with total assets under management worth ₹49.24 trillion (US$620 billion) as of March 2023. It is under the ownership of Government of India and administrative control of the Ministry of Finance.

LIC policies are backed by the central government and are less risky. It offers guaranteed death benefits as well. Mutual funds are dependent on the market and are far more volatile in terms of returns. LIC is a government-backed entity that fulfils a person's insurance needs.

The highest-paying job at LIC Of India is a Linux Systems Administrator with a salary of ₹21,91,981 per year (estimate). The lowest-paying job at LIC Of India is an Apprentice Development Officer with a salary of ₹39,864 per year (estimate).

The five largest health insurance companies are UnitedHealth Group, Anthem, Kaiser Permanente, Ambetter and Humana. Currently insured?

The Guinness record holder: The most valuable life insurance policy ever sold, according to Guinness World Records, is valued at a total of $201 million, on the life of a well-known U.S. billionaire who resides in the Silicon Valley area of California and is actively known in the technology space.