LIC:Life insurance corporations of India

  • this point lets start our journey from my homecity, Mumbai. Passing through the lanes of Mumbai, we willreach this building, called 'Yogakshema'. 
  • this is often the top office of Life Insurance Corporation of India, India's largest insurance firm. From outside LIC might appear as if a modestInsurance company, but LIC is far much bigger.
  •  LIC total assets are quite Apple, 
  • to know the journey of LIC, let turnback time to 1818, and reach the town of joy, Kolkata. That year the primary life assurance companyon India soil, Oriental life assurance was established. the corporate catered mainly to the Europeancommunity, with Indians compelled to pay a better rate. 
  • Later many smaller insurance companies startedcropping up everywhere India. Time glided by and in 1947, India finally gainedits Independence. in the dark during this parliament building, thenew India began its Tryst With Destiny. 
  • 9 Years later, within the same parliament, betweenall the energetic discussions & debates, the govt took a serious decision. life assurance of India Act was passed, whichnationalized the life assurance business in India. 
  • within the next 3 months, over 200 private lifeinsurers were merged to make a replacement government owned entity called, life assurance Corporationof India. LIC started with a capital of only $10 Million,but now 6 decades later LIC's total assets have leapfrogged to over $440 billion. 
  • Which is above the GDP of around 75%of the countries within the world and also all the mutual funds in India, combined. Moreover, LIC has such a huge customerbase that if all LIC customers were one country, that might are the 4th largest countryin the planet. So with none further delay, let's sit backand witness, the huge business empire of LIC.
  •  we'll first visit the colourful Kenya& reach the capital city of Nairobi. Here we'll find KenIndia house, the headoffice of the most important non-life insurer in Kenya, which is partly owned by LIC. Moving to the scenic Mauritius, we'll reachLIC Center at Port Louis. 
  • Here in Mauritius, LIC has been operatingfrom the past 6 decades and was also the primary life insurer within the secluded Rodrigues island. From the beaches of Mauritius, let's moveto desert sands of Bahrain. LIC International is one among the leading lifeinsurance company in Bahrain. 
  • Moreover, this jointly owned company is alsopopular in nearby UAE, Kuwait and Oman. Furthermore, LIC also operates in Saudi Arabia,Sri Lanka, Nepal, Bangladesh, Singapore uk and is additionally one among the leading lifeinsurer within the island nation of Fiji. From the alluring Fiji, its time to finallyreach India. 
  • Here, aside from, the life assurance business,LIC also owns one among India's largest housing nondepository financial institution, a open-end fund, a pensionfund, offers credit cards and also owns a majority stake in industrial development bank,IDBI. 
  • LIC is so huge, that it employes over a millionagents and pays over $2.5 billion, just in commissions, per annum. Not only that, LIC is additionally India's biggestinstitutional investor and holds significant minority stakes during a mammoth list of companies. during this video, we'll check out, just a fewof those companies. 
  • to know LIC's investment portfolio,let's take an extended walk on a sunny day. After walking few steps, at the corner wewill find a bank. Talking about banks, LIC holds over 9% stakein ICICI, Axis Bank and also India's largest bank, depository financial institution of India. 
  • Furthermore, LIC also holds significant minoritystake in Yes Bank, Punjab And Sindh Bank, PNB, Union Bank of India and Canara Bank. After walking few more steps, we'll findsky soaring buildings, all around us. These are the fashionable marvels of steel andconcrete. Talking about steel, LIC owns around 9% stakein Tata Steel and Steel Authority Of India.
  •  And just in case of Cement, LIC has minority holdingsin ACC, Ambuja Cements & also India biggest cement company, Ultra Tech Cement. Moreover, as we are now talking about construction,LIC is additionally the most important shareholder of India's biggest construction company, L&T. Enough of walking, now let's drive a car.
  •  we've two options, we will choose India'sbiggest car maker, Maruti Suzuki or India's leading SUV manufacturer, Mahindra& Mahindra. By the way, Mahindra & Mahindra is additionally thethe highest-selling tractor brand within the world. Which ever brand we elect, LIC owns over5% stake in both these companies.
  •  But what if rather than a car, we would like to ridea motorbike. therein case too, LIC owns significant stakein Bajaj Auto, TVS and also the world's biggest two-wheeler manufacturer, Hero MotoCorp. Now as we are driving our motorcycle towardsthe setting sun, What if we run out of fuel? Talking about fuel, LIC owns minority stakein major oil marketing companies that include ONGC, BPCL, GAIL, Castrol India and also India'slargest commercial company IndianOil. 
  • Now we've reached a grand hotel, ITC Marathaowned by the ITC group. ITC operates over 100 luxury hotels acrossIndia, is Asia's largest cigarette manufacturer, owns major care brands like Fiama,Vivel, Savlon & is additionally one among India's biggest seller of branded foods. 
  • The second-biggest shareholder of this mammothITC Group is, LIC. From ITC now lets mention IT, InformationTechnology. LIC also owns over 4% stake in Infosys, Wipro,and also India's biggest IT company, TCS, which is valued at around $100 billion inmarket cap. Now let's stop for a short time and watch the settingsun, because the day slowly fades away.
  •  Let's make a fast call. The mobile network we are using is JIO, thethird-largest mobile network within the world. Jio is owned by Reliance Industries, the largestpublicly traded company in India, which also operates the most important petroleum refinery inthe world. And yes, LIC also holds around 6% stake inReliance Industries. 
  • Now if we glance at the sky, we'd  locatethe light combat aircraft Tejas, manufactured by Hindustan Aeronautics. Around 7% shares of Hindustan Aeronauticsare owned by LIC. Moreover, LIC also owns around 10% stake inIndia's largest power generation equipment manufacturer, BHEL. Now finally, its time to succeed in our last stop. 
  • We are now outside the National stock market,the place where fortunes of massive companies change daily. the businesses which are traded on NSE includethe telecommunications service provider, MTNL; one among India's leading biscuit company, BritanniaIndustries; India's biggest footwear manufacturer, Bata India; India's largest private multi-portoperator, Adani Ports, and also the world's largest producer of viscose fibre, GrasimIndustries. 
  • So what's common between of these companies? Yes, LIC holds a considerable minority stakein all of them. Not only that, LIC also has over 12% stakein the National stock market itself. But still, of these investments form a smallportion of LIC total assets.
  •  As LIC is additionally the most important investor in IndianGovernment bonds. the cash from these Government bonds areused to fund various national expenses & projects. Moreover, LIC also provides funding to IndiaRailways, operates a community development foundation and has also recently donated overRs. 100 crores, to the PM Cares Fund. Looking closely at this 6 decade old company,one realises, how LIC is impacting almost every a part of the Indian economy. So within the end, all I can say, this is often LIC'smassive business empire.

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