State-owned insurance giant Life Insurance Corporation of India (LIC) has achieved a significant milestone, with its total assets under management (AUM) crossing the Rs 50 lakh crore mark, nearly double the size of Pakistan’s GDP.
Following a sharp rally in Indian stocks, LIC’s AUM has surged by 16.48% year-on-year, reaching Rs 51,21,887 crore ($616 billion) as of the end of March. This marks a substantial increase from Rs 43,97,205 crore at the end of FY23.
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According to the latest data, LIC’s financial clout now not only dwarfs Pakistan’s GDP, which stands at approximately $338.24 billion, but also surpasses the economies of Denmark and Singapore.
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The impressive size of LIC’s insurance fund, amounting to $616 billion, also eclipses the combined GDPs of three of India’s neighboring countries.
Pakistan’s GDP is about $338 billion, while Nepal’s GDP is around $44 billion, and Sri Lanka’s is approximately $75 billion. Together, these three economies sum up to less than LIC’s AUM.
Stock Performance In Last One Year
In terms of stock performance, LIC shares have demonstrated positive returns across multiple time frames. Over the past month, the stock has given a commendable 9.42% return, showcasing its stability and growth potential. The last six months have seen even more impressive results, with a substantial increase of 32.46%, indicating a strong upward trend.
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Year-to-date, LIC shares have surged by 23.65%, reinforcing the stock’s positive momentum in the current fiscal year. Looking at the broader picture, the stock has delivered an impressive return of over 71.74% in the last twelve months, emphasizing its sustained growth and attractiveness to investors.
(Disclaimer: Views, recommendations, and opinions expressed are personal and do not reflect the official position or policy of Financial Express.com. Readers are advised to consult qualified financial advisors before making any investment decisions. Reproducing this content without permission is prohibited.)
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