LIC Ranks Fourth Globally in S&P Global's 2022 Insurance Report

In a recent report by S&P Global Market Intelligence, the Life Insurance Corporation of India (LIC) has secured its position as the world’s fourth-largest insurer. The ranking is based on the life and accident & health reserves of companies for the year 2022.

Global Ranking:

Allianz SE (Germany): Securing the top spot with reserves amounting to $750.20 billion.
China Life Insurance Company (China): Claiming the second position with reserves totaling $616.90 billion.
Nippon Life Insurance Company (Japan): Grasping the third position with reserves reaching $536.80 billion.
Life Insurance Corporation of India (LIC): Notably, LIC clinches the fourth spot globally, boasting reserves of $503.7 billion.

Regional Dominance

European Firms: Among the top 50 global life insurance companies, European firms dominate the scene, occupying 21 positions.
United States: Leading on an individual country basis, the US houses the highest number of life insurers on the list, with eight companies headquartered in the region.
United Kingdom: Following closely, the UK claims the second spot among individual countries, hosting seven companies in the top 50.

Asian Representation

Overall Presence: Asian firms make a significant mark, securing 17 spots among the top 50 global life insurance companies.
China and Japan: These two Asian powerhouses share the top spots in the region, with five companies each headquartered in China and Japan.