In a significant development, Life Insurance Corporation (LIC) has made notable progress in the global insurance rankings, securing the 12th position with an impressive $554 billion in non-bank assets. This marks an improvement from its 13th position last year, despite the rupee’s depreciation. The achievement is based on a comprehensive global list compiled by the esteemed rating agency AM Best.
In addition to this impressive rise in the rankings, LIC has sustained its 16th position in terms of net premiums written. The company has witnessed an 11% increase in net premiums, amounting to a substantial $58 billion.
It’s noteworthy that the leading positions for non-banking assets are currently held by Allianz with a staggering $1 trillion and Ping An with $960 billion.
