LIC CEO R Doraiswamy explains Insurance Penetration, Investments & Vision 2047 under big growth plan
EXCLUSIVE Interview with R Doraiswamy, LIC CEO, in Mumbai. Growth Strategy: LIC aims to drive growth over the next 3 to 5 years by relying on technology-enabled processes, a customer-centric approach, and a strong contribution from protection and retirement savings funds to maintain its market leadership. Government Divestment: Following its initial public offering (IPO), LIC's public shareholding has gradually increased with growing foreign institutional investor (FII) and domestic institutional investor (DII) participation, with ample time remaining to meet regulatory shareholding norms by 2032. Insurance Penetration: With India remaining underinsured, LIC sees a major opportunity to expand coverage by reaching uninsured populations while enhancing protection levels for existing policyholders across both life and health segments. Asset Allocation & Flexibility: LIC's investment strategy focuses on providing safety, liquidity, and stable returns to meet long-term liabilities, evaluating asset classes in strict compliance with the regulatory framework. Indian Equity Outlook: LIC maintains a long-term institutional perspective on Indian equities, aiming to support capital market stability and leverage growth without being driven by short-term market volatility. Shareholder Activism & Governance: As a major institutional investor, LIC maintains a transparent voting policy to actively promote high corporate governance standards and foster value creation in portfolio companies. Strategic Equity Investments: Decisions regarding specific company stakes (such as ICICI Bank) are made within regulatory limits to build long-term value for policyholders and shareholders. Macroeconomic Landscape: Despite global geopolitical friction, LIC views India's strong economic growth and prevailing interest rates as favorable conditions to lock in long-term yield for its non-participating business. Streamlining Claim Settlements: LIC is simplifying its claim process using digital portals and automated outreach so that policyholders face minimal documentation hurdles during maturity and death claims. Product Innovation & Vision 2047: New products (such as term insurance and income protection plans) are regularly introduced to address market gaps, supporting the government's broader initiative of achieving "Insurance for All" by 2047.
