Buzz of LIC's IPO

The Life Insurance Corporation of India (LIC) is the country's largest insurance provider. In the new business premium market, it has a market share of more than 66.2 percent. Unit-linked insurance products, saving insurance products, term insurance products, health insurance, and annuity & pension products are among the company's participating and non-participating products.

It has a total AUM of Rs. 39 lakh crore as of 30 September 2021. LIC has 2048 branches, 113 divisional offices, and 1,554 satellite offices around the country. Fiji, Mauritius, Bangladesh, Nepal, Singapore, Sri Lanka, the United Arab Emirates, Bahrain, Qatar, Kuwait, and the United Kingdom are among the countries where it operates.

• LIC is a corporation that sells both insurance and investment solutions. Their products combine insurance and investing to provide a guaranteed return.
• LIC has more than 13.5 lakh agents who bring in the majority of new business. LIC plans to provide 'set returns' as well as life insurance protection. This makes it simple for brokers to sell and gives insurers peace of mind.
• The public has a high level of confidence in LIC for both life insurance and investing. In India, LIC stands for Life Insurance Corporation.
• By GWP, it is India's largest insurance provider and the world's fifth-largest insurer.
• Individuals can choose from a variety of life insurance plans to fit their various insurance needs.

LIC plans to launch its IPO in March 2022. The government of India is diluting its initial share in LIC by launching the first IPO of LIC. the price of the IPO is expected to be around Rs 1500 to Rs 3200.

IPO is open for employees of LIC and investors. Also, policyholders have a reservation of 10% in IPO.

Finance Minister Nirmala Sitharaman said in a statement said there is a lot of interest and buzz in the market for the upcoming IPO of Life Insurance Corporation of India.

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