Determining Of Embedded Value Likely To Be Completed By July 15: LIC
Exercise of determining the Indian Embedded Value as on March 31, 2022, may take some more time, LIC said in a statement.
Insurance behemoth Life Insurance Corporation on Wednesday said the exercise of determining its embedded value as of March 2022 is on and is likely to be completed by July 15.
It is informed that the exercise of determining the Indian Embedded Value as on March 31, 2022, may take some more time to get completed, LIC said in a statement.
'Once completed and after requisite approvals, the required public disclosures of the same, will be made in this regard, by LIC of India. As of now, we expect the required public disclosures, to be made by July 15,' it said.
The Embedded Value is a measure of the consolidated value of shareholders' interest in the life insurance business.
It represents the worth of shareholders' interests in the earnings distributable from the assets allocated to the business after sufficient allowance for the aggregate risks in the business.
LIC's embedded value was pegged at about Rs 5.4 lakh crore as on Sept. 30, 2021 by international actuarial firm Milliman Advisors.
Last month, the government raised about Rs 20,500 crore by diluting its 3.5% stake in the insuer through the biggest ever IPO.
Following the listing, LIC on a standalone basis reported a 18% decline in its net profit at Rs 2,371.55 crore in the quarter ended March 2022, compared to Rs 2,893.48 crore in the year-ago period.
On a consolidated basis, the profit after tax dropped 17% to Rs 2,409 crore for the fourth quarter ended March 2022 from Rs 2,917 crore in the same quarter a year ago.