The Life Insurance Corporation of India (LIC) is a government-owned insurance company which is headquartered in Mumbai, India. Founded in 1956, it is the largest Indian insurance company in terms of market share, asset value and customer base.
The future of Life Insurance Corporation shares will largely depend on many factors, including industry trends, market conditions, economic growth, the company’s operations and management, and other elements that may affect the company's financial performance.
Given all this, as on 26th April 2023,the Life Insurance Corporation has given returns of -20.41 % in the past 3 months, and -28.77 % YTD on its stock.
The life insurance sector in India is a highly competitive one. Currently, insurers are aiming for more penetration into the sector, and insurance companies are providing many incentives to draw in customers. Nonetheless, certain factors may influence the share price of the Life Insurance Corporation, and these are mentioned below:
The insurance sector in India is highly competitive. Companies are in stiff competition to reach new targets in terms of securing clientele. This is even harder in India as there is a lack of penetration in the insurance market. The Life Insurance Corporation of India has been a significant player in the sector of insurance in India. It is an established company and has been around since 1956.
In terms of its long-term growth potential, LIC is well placed to capitalise on India's large and evolving population, the rising disposable income of people, and gradually increasing demand for insurance products. The company has an extensive network of agents and branches throughout India and this gives it a competitive edge. It has a robust brand recognition and a reliable reputation as well.
Along with all this, the Indian government's aims to increase insurance penetration through policy initiatives like the Atal Pension Yojana, the Pradhan Mantri Jan Dhan Yojana and the Pradhan Mantri Fasal Bima Yojana may potentially create substantial opportunities for the Life Insurance Corporation in the future.
The Life Insurance Corporation was listed in May 2022, and after that only one dividend payout was issued in August 2022. There has been no announcement of any upcoming dividend on LIC shares so far.
So far, only one dividend payout has been issued in August 2022 for Life Insurance Corporation shares.