The embedded value of LIC is around Rs 5.4 crore as at September 30, 2021.

New Delhi:

Insurance giant Life Insurer said Wednesday that work to determine its embedded value is underway as of March 2022 and could be completed by July 15.

In a statement, LIC said it is understood that the work to determine India’s Embedded Value (IEV) by March 31, 2022 may take more time to complete.

“Once completed and the necessary are obtained, the LIC of India will make the required public disclosures in this regard. As of now, we expect to make the required public disclosures by July 15,” it said.

Embedded Value (EV) measures the combined value of shareholders’ equity in a life insurance business.

It represents the value of shareholders’ equity in the earnings that can be distributed from the assets allocated to the business, after taking due account of the total risk of the business.

Milliman Advisors, an international actuarial firm, has pegged the embedded value of LIC at around Rs 5.4 crore as of September 30, 2021.

Last month, the government raised about 205 billion by diluting its 3.5 percent stake in the insurer in the largest IPO ever.

Following the listing, LIC reported that its net profit fell 18% to Rs 2,371.55 crore in the ended March 2022, compared to Rs 2,893.48 crore a year earlier.

On a consolidated basis, profit after tax for the fourth ended March 2022 fell 17% to Rs 2,409 crore from Rs 2,917 crore a year earlier.

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