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LIC may disclose embedded value by July 15

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The embedded value of LIC was estimated to be around Rs 5.4 lakh crore as of September 30, 2021.

New Delhi:

Insurance giant Life Insurance Corporation on Wednesday said the exercise to determine its embedded value by March 2022 is on and is likely to be completed by July 15.

It is informed that the exercise of determining the Indian Embedded Value (IEV) may take some more time to be completed by March 31, 2022, LIC said in a statement.

It said, “Once completed and after necessary approvals, necessary public disclosures will be made by LIC of India in this regard. As of now, we expect necessary public disclosures by July 15.”

Embedded value (EV) is a measure of the consolidated value of shareholders’ interest in the life insurance business.

It represents the value of shareholders’ interests in distributed income from assets allocated to the business after sufficient allowance for the total risks in the business.

The embedded value of LIC as on September 30, 2021, was estimated to be around Rs 5.4 lakh crore by international actuarial firm Milliman Advisors.

Last month, the government raised around Rs 20,500 crore by reducing its 3.5 per cent stake in the insurance company through its biggest ever IPO.

Post listing, LIC on a standalone basis reported an 18 per cent decline in its net profit at Rs 2,371.55 crore for the quarter ended March 2022, as against Rs 2,893.48 crore in the year-ago period.

On a consolidated basis, profit after tax declined 17 per cent to Rs 2,409 crore for the fourth quarter ended March 2022 from Rs 2,917 crore in the same quarter a year ago.

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