Kanpur Stock：LIC Share Price Today： Live Life Insurance Corporation of India Share Price NSE／BSE

Life Insurance Corporation of India (LIC) is an Indian public sector life insurance company headquartered in Mumbai, Maharashtra. LIC is India’s biggest insurance company and the largest institutional investor investing in other Indian companies. The total assets under management of LIC are worth ₹ 41.66 lakh crore as of September 2022. LIC is publicly managed and is under the direct ownership of the Government of India and the administrative control of the Indian Ministry of Finance.

According to LIC’s exchange filing, the publicly-owned life insurance company witnessed a 112% increase in its standalone net profit in the fourth quarter of FY22. LIC’s standalone net profit for the Q4 of FY22 stood at ₹ 2,371.5 crore. Furthermore, LIC witnessed a multi-fold rise in its annual net profits, which stood at ₹ 35,997 crore, with its net commission rising 5% to ₹ 8,428 for the last quarter.Kanpur Stock

LIC has an extensive network of physical branches in India, with numerous branches overseas that provide a host of insurance products such as life insurance plans, pension plans, ULIPs, micro insurance plans, withdrawal plans and health insurance plans.

As an institutional investor, LIC has a diversified portfolio of ₹ 10 lakh crore with as marsny as 273 stocks in its portfolio. In terms of current market value, Reliance Industries is the largest holding for LIC, with a value of ₹ 1.06 lakh crore. In 2022, LIC was ranked 98th on the 2022 Fortune Global 500 list, with an income of ₹ 1.31 lakh crore.

In 1818, Bipin Das Gupta set up India’s first insurance company, named the Oriental Life Insurance Company, in Kolkata to provide insurance to the Indians. It was the same when Surendranath Tagore founded the Hindustan Insurance Society, which later became the Life Insurance Corporation. These two companies started the insurance revolution in India, leading to the first two decades of the twentieth century witnessing 176 insurance companies with a valuation of ₹ 298 croreBangalore Investment. However, in 1956, Feroz Gandhi highlighted the matter of insurance fraud, which led to the Indian government creating the Life Insurance Corporation Act and forming LIC on 1st September 1956.

In the 2021 Union Budget, the Indian Finance Minister Nirmala Sitharaman announced that the Indian government would sell a 3.5% stake or 31.6 crore shares in LIC to the general publicJaipur Investment. The Indian government opened the biggest-ever Indian IPO on May 4, 2022, and raised ₹ 21,000 crores, valuing the company at a staggering ₹ 4.48 lakh crore. LIC shares got listed on the stock exchanges on May 17th, 2022, with the LIC share price opening at Rs 867.20, a discount of 8.62% to the issue price of ₹ 949.

Currently, LIC operates eight zonal offices located in Chennai, Delhi, Hyderabad, Mumbai, Kolkata, Kanpur, Patna and Bhopal. Furthermore, LIC also operates the LIC Golden Jubilee Foundation, which aims to promote education, minimise poverty and raise the standard of living of Indian citizens.

LIC stock price and its steady increase over the past year from the brief lows have provided a profitable way for investors to earn through dividends and capital appreciation with low risk. LIC has been given numerous awards as the biggest insurance provider in the country. Here are the awards for the year 2021-22:

ACEF Award

Ashirwad Award

CFBP Jamna Lal Bajaj Award

Dun and Bradstreet AwardLucknow Investment

Economics Times BFSI Award Best Brand

FICCI Insurance Industry Award Best Campaign Award

FICCI Insurance Industry Award Special Jury Award

India's Most Trusted Insurance Brand Award Honored by Insurance Alerts

Marksmen-Daily-Excellence-in-the-BFSI-Industry

National Award For Excellence in Digital Marketing 7th Edition Digital Advertising Award

World BFSI Congress Award Customer Service Excellence Award

World BFSI Congress Award Operational Excellence Initiative of the Year

Here are some interesting facts about LIC stock price and the company:

As an institutional investor, LIC has investments in a host of industries, such as construction, infrastructure, banks, chemicals and fertilisers, healthcare hotels, etc. The investments and their current performance also affect the LIC share price today.

LIC has nearly 19 crore policyholders with a 74.6% market share when it comes to the number of policies issued.

LIC has an 81.1% market share in terms of group policies it has issued for the financial year 2021.

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