1.1: History of Life Insurance in India

1.2: Nationalization of Life Insurance in 1956

1.3 Liberalization of the Life Insurance Industry

3.1 Growth in Life Insurance Premium

3.2 Key Indicators of Insurance Industry Since Liberalisation In 2000

3.3 Business Performance Indicators

3.4 Payouts To Policyholders

3.5 Total Investments of Life Insurers: Category Wise (INR in Crores)

3.6 Profitability and Funds of Life Insurance Industry (INR in Crores)

4.1 All India Presence

4.2 Strong Agent Network

4.3 Type of Business

4.3.1 Average Per Policy - Premium: Individual Agents (INR in Crores)

4.3.2 New Business Premium (INR in Crores)

4.3.3 Policies in Force (Number In Crores)

4.3.4 Breakup of Premiums (INR in Crores)

4.4 Underwriting Practices

4.5 Mortality and Morbidity Tables

4.6 Expenses of Management

4.7 Sum Assured Per Policy (INR in Crores)

4.8 Payouts to Policyholders (INR in Crores)

4.9 Lapse Ratio and Persistency

4.10 Investments

4.11 Investments Category-wise

4.12 Percentage of Investments to Total Assets

4.13 Net NPA – LIC

4.14 Income from Policyholders Investments – LIC

4.15 Accounting Surplus & Profitability

4.16 Capital & Free Reserves of LIC

4.17 Solvency

5.1 Strengths

5.1.1 Brand Name

5.1.2 High Degree of Trust

5.1.3 Tax Incentives

5.1.4 All India Presence

5.1.5 Very Strong Presence in Traditional Businesses

5.1.6 Mass Volumes

5.1.7 Stringent Underwriting Practices

5.1.8 Stable Persistency Ratios

5.1.9 Legacy Premiums

5.1.10 Strong Investment Portfolio and Fund Management

5.1.11 Low Level of NPAs as Compared to Banks

5.1.12 Consistent Valuation Policies

5.1.13 Solvency Maintained Despite Low Capital Base

5.1.14 Hidden Assets - LIC Real Estate Holdings

5.2 Weakness

5.2.1 LIC is entirely a Government Entity

5.2.2 Not as Nimble as the Private sector players

5.2.3 Absence of any Banking Channels

5.2.4 Payouts to Policyholders

5.2.5 Slack Investment Climate

5.2.6 Legacy Workforce

5.3 Opportunities

5.3.1 Propensity to Save

5.3.2 IT Enabled Opportunities

5.3.3 Concentration on Mass Products

5.3.4 Claim Settlement

5.4 Threats

5.4.1 Competition

5.4.2 Fall in Interest Rates

5.4.3 Transition to International Accounting Standards

5.4.4 Increasing Life Expectancy

5.4.5 ULIPs

5.5 Conclusion

6.1 Calculation of Future Growth Earnings in LIC

6.2 Embedded Value Adjusted for Market Capitalisation