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Reliance Securities' IPO Report
Life Insurance Corporation of India (LIC) was formed by merging and nationalising 245 private life insurance companies in India in September 1956, with an initial capital of Rs 50 million.
LIC has 2,048 branch offices and 1,559 satellite offices in India, covering 91% of all districts in the country. It has been providing life insurance in India for more than 65 years and is the largest life insurer in the country.
LIC is ranked fifth globally for life insurance gross written premium and ranked 10th globally in terms of total assets.
Premium from the international market is ~1% with branches in Fiji, Mauritius and the UK and with subsidiaries in Bahrain (operations in Qatar, Kuwait, Oman and UAE), Bangladesh, Nepal, Singapore and Sri Lanka in the life insurance segment.
LIC is coming out with an IPO of Rs 210 billion, comprising of an offer for sale of 221.4 million shares.
Click on the attachment to read the full IPO report:
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