Abstract
This paper identifies the factors which influence the profitability of Life Insurance Corporation. LIC remains the most profitable Life Insurance Company in India and hence it is imperative that we understand the factors which contribute to its profitability and growth. The absence of empirical studies in India, about Profitability of LIC became the motivation for the study. Related review of literature is structured around the key components of profitability, operating expenses and surplus distribution. With ∼3lakh crore as Total Premium Income and 2.13 crore policies for 2017–18, LIC dominates the life insurance space both on premium and policy count. Corporation paid Rs. 2446 crore as dividend to Government of India in 2017–18. LIC functions with 2048 fully computerized branch offices, 113 divisional offices, 8 zonal offices, 1381 satellite offices and the corporate office. LIC's Wide Area Network covers 113divisional offices and connects all the branches through a Metro Area Network. In terms of overseas operations the Corporation directly operates through its branch offices in Mauritius, Fiji and United Kingdom. On product front the corporation has 30 Individual Products, 12 Group Products and 7 Riders, available for sale.
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