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LIC Business Empire ($440 billion) | How big is LIC? | Life Insurance Corporation of India - YouTube
Channel: TheFilmyCut
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Hello and welcome to TFC, I am Navin.
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This time lets start our journey from my home
city, Mumbai.
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Passing through the lanes of Mumbai, we will
reach this building, called 'Yogakshema'.
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This is the head office of Life Insurance
Corporation of India, India's largest insurance
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company.
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From outside LIC might look like a modest
Insurance company, but LIC is much much bigger.
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LIC total assets are more than Apple, General
Electric and even ExxonMobil.
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Before we begin, a big shout out for our new
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And now let's get back to, LIC.
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To understand the journey of LIC, let turn
back time to 1818, and reach the city of joy,
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Kolkata.
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That year the first life insurance company
on India soil, Oriental Life Insurance was
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established.
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The company catered mainly to the European
community, with Indians compelled to pay a
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higher rate.
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Later many smaller insurance companies started
cropping up all over India.
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Time went by and in 1947, India finally gained
its Independence.
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At midnight in this parliament building, the
new India began its Tryst With Destiny.
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9 Years later, in the same parliament, between
all the energetic discussions & debates, the
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government took a major decision.
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Life Insurance of India Act was passed, which
nationalized the life insurance business in
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India.
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In the next 3 months, over 200 private life
insurers were merged to form a new government
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owned entity called, Life Insurance Corporation
of India.
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LIC started with a capital of only $10 Million,
but now 6 decades later LIC's total assets
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have leapfrogged to over $440 billion.
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Which is higher than the GDP of around 75%
of the countries in the world and also all
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the mutual funds in India, combined.
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Moreover, LIC has such a massive customer
base that if all LIC customers were one country,
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that would have been the 4th largest country
in the world.
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So without any further delay, let's sit back
and witness, the massive business empire of
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LIC.
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We will first travel to the vibrant Kenya
& reach the capital city of Nairobi.
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Here we will find KenIndia house, the head
office of the largest non-life insurer in
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Kenya, which is partly owned by LIC.
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Moving to the scenic Mauritius, we will reach
LIC Center at Port Louis.
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Here in Mauritius, LIC has been operating
from the past 6 decades and was also the first
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life insurer in the secluded Rodrigues island.
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From the beaches of Mauritius, let's move
to desert sands of Bahrain.
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LIC International is one of the leading life
insurance company in Bahrain.
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Moreover, this jointly owned company is also
popular in nearby UAE, Kuwait and Oman.
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Furthermore, LIC also operates in Saudi Arabia,
Sri Lanka, Nepal, Bangladesh, Singapore United
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Kingdom and is also one of the leading life
insurer in the island nation of Fiji.
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From the alluring Fiji, its time to finally
reach India.
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Here, other than, the life insurance business,
LIC also owns one of India's largest housing
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finance company, a mutual fund, a pension
fund, offers credit cards and also owns a
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majority stake in industrial development bank,
IDBI.
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LIC is so huge, that it employes over a million
agents and pays over $2.5 billion, just in
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commissions, every year.
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Not only that, LIC is also India's biggest
institutional investor and holds significant
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minority stakes in a mammoth list of companies.
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In this video, we will look at, just a few
of those companies.
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To understand LIC's investment portfolio,
let's take a long walk on a sunny day.
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After walking few steps, at the corner we
will find a bank.
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Talking about banks, LIC holds over 9% stake
in ICICI, Axis Bank and also India's largest
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bank, State Bank of India.
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Furthermore, LIC also holds significant minority
stake in Yes Bank, Punjab And Sindh Bank,
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PNB, Union Bank of India and Canara Bank.
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After walking few more steps, we will find
sky soaring buildings, all around us.
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These are the modern marvels of steel and
concrete.
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Talking about steel, LIC owns around 9% stake
in Tata Steel and Steel Authority Of India.
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And in case of Cement, LIC has minority holdings
in ACC, Ambuja Cements & also India biggest
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cement company, Ultra Tech Cement.
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Moreover, as we are now talking about construction,
LIC is also the largest shareholder of India's
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biggest construction company, L&T.
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Enough of walking, now let's drive a car.
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We have two options, we can choose India's
biggest car manufacturer, Maruti Suzuki or
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India's leading SUV manufacturer, Mahindra
& Mahindra.
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By the way, Mahindra & Mahindra is also the
the highest-selling tractor brand in the world.
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Which ever brand we choose, LIC owns over
5% stake in both these companies.
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But what if instead of a car, we want to ride
a motorbike.
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In that case too, LIC owns significant stake
in Bajaj Auto, TVS and also the world's biggest
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two-wheeler manufacturer, Hero MotoCorp.
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Now as we are driving our motorcycle towards
the setting sun, What if we run out of fuel?
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Talking about fuel, LIC owns minority stake
in major oil marketing companies that include
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ONGC, BPCL, GAIL, Castrol India and also India's
largest commercial oil company IndianOil.
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Now we have reached a grand hotel, ITC Maratha
owned by the ITC group.
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ITC operates over 100 luxury hotels across
India, is Asia's largest cigarette manufacturer,
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owns major personal care brands like Fiama,
Vivel, Savlon & is also one of India's biggest
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seller of branded foods.
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The second-biggest shareholder of this mammoth
ITC Group is, LIC.
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From ITC now lets talk about IT, Information
Technology.
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LIC also owns over 4% stake in Infosys, Wipro,
and also India's biggest IT company, TCS,
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which is valued at around $100 billion in
market cap.
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Now let's stop for a while and watch the setting
sun, as the day slowly fades away.
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Let's make a quick phone call.
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The mobile network we are using is JIO, the
third-largest mobile network in the world.
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Jio is owned by Reliance Industries, the largest
publicly traded company in India, which also
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operates the largest crude oil refinery in
the world.
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And yes, LIC also holds around 6% stake in
Reliance Industries.
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Now if we look at the sky, we might locate
the light combat aircraft Tejas, manufactured
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by Hindustan Aeronautics.
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Around 7% shares of Hindustan Aeronautics
are owned by LIC.
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Moreover, LIC also owns around 10% stake in
India's largest power generation equipment
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manufacturer, BHEL.
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Now finally, its time to reach our last stop.
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We are now outside the National stock exchange,
the place where fortunes of big companies
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change daily.
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The companies which are traded on NSE include
the telecommunications service provider, MTNL;
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one of India's leading biscuit company, Britannia
Industries; India's biggest footwear manufacturer,
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Bata India; India's largest private multi-port
operator, Adani Ports, and also the world's
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largest producer of viscose rayon fibre, Grasim
Industries.
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So what is common between all these companies?
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Yes, LIC holds a substantial minority stake
in all of them.
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Not only that, LIC also has over 12% stake
in the National Stock Exchange itself.
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But still, all these investments form a small
portion of LIC total assets.
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As LIC is also the biggest investor in Indian
Government bonds.
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The money from these Government bonds are
used to fund various national expenses & projects.
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Moreover, LIC also provides funding to India
Railways, operates a community development
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foundation and has also recently donated over
Rs. 100 crores, to the PM Cares Fund.
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Looking closely at this 6 decade old company,
one realises, how LIC is impacting almost
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every part of the Indian economy.
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So in the end, all I can say, this is LIC's
massive business empire.
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Also while going, a final shout-out for our
Android App, 'goZEN Music Player', download
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and experience our free soulful music player,
get the link from the description.
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Thank You & stay safe.
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