LIC Share Price Target 2024, 2025, 2026, 2030, 2040

Life Insurance Corporation of India (LIC), headquartered in Mumbai, is the largest insurance company in India. With over 60 years of operation, LIC has a dominant market share of over 66% in the life insurance space with over 280 million policies. As a trusted brand, LIC commands strong market position and financial strength.

For investors, understanding LIC’s share price performance provides insights into the outlook of the insurance sector as well as the larger financial markets. LIC stock reflects analyst confidence, government policy, market sentiment and appetite for India’s largest insurer. Continuous monitoring of LIC’s share price is important for informed investment decisions.

LIC Company Overview

Current Price (NSE)INR 853.80
Change (Today)+2.55 (+0.30%)
52-Week High/LowINR 843.90 / INR 530.05
Market CapitalizationINR 5,90,965.59 Crore (Large Cap)
P/E Ratio49.02 (High)
P/B Ratio1.91
Return on Equity (ROE)29.08%
5-Year Average ROE20.85%
Volume (Today)36,72,560
52-Week Average Volume84,09,254
Analysts’ RecommendationMixed (Target price range varies: INR 820 – INR 1,020)

Historical Evolution

LIC was founded in 1956 after nationalization and consolidation of over 240 private life insurance companies. It was formed by an act of Parliament to spread life insurance widely and mobilize savings for nation building. Over decades, LIC has grown significantly with nationwide reach.

Key milestones include:

  • 1956: Incorporated by LIC Act 1956
  • 2006: Online premium collection system launched
  • 2010: Over 600 million lives covered
  • 2017: Total assets cross INR 25 lakh crore
  • 2022: 66% market share with over 280 million policies

Read nowtata power share price target

Key Financial Indicators

  • Market Cap: Rs 5,30,509 crore as of Jan 2024
  • AUM: Over Rs 41 lakh crore as of Mar 2022
  • Revenue (FY22): Rs 7.86 lakh crore
  • Net Profit (FY22): Rs 35,996 crore
  • Embedded Value: Rs 5.7 lakh crore as of Sep 2022

LIC has maintained steady growth in premiums and profits indicating continued market dominance.

Recent Developments

  • May 2022: Oversubscribed IPO, listed on stock exchanges
  • Nov 2022: Launched mobile app for premium payments
  • Dec 2022: New product ‘Dhan Sanchay’ for social security
  • Jan 2023: Market share further rose to 67.6%

IPO listing expanded LIC’s shareholder base. New product launches and rise in market share signals strong brand position.

Role in Insurance Sector

Core Business Model

LIC provides life insurance, pension plans, annuities, health insurance and unit linked plans. Key aspects include:

  • Over 290 insurance products to retail and corporate clients
  • Pan-India presence with over 2,000 branch offices
  • Strong agency force of over 1.3 million agents
  • Investment portfolio of over Rs 41 lakh crore

LIC generates revenue through new premiums, renewals, investment income and fees. Claims ratio has been maintained at around 98% reflecting robust claim settlement process.

India’s life insurance sector is growing at over 10% annually. Key trends shaping LIC’s market include:

  • Increasing financial literacy and awareness around insurance
  • Focus on product innovation aligned to customer needs
  • Adoption of technology across operations and distribution
  • Entry of private players intensifying competition
  • Regulatory push for higher foreign investment limits

However, LIC continues its market leadership position leveraging brand trust, vast distribution network and new product launches.

LIC Share Price Analysis

Current Share Price

LIC share price has seen volatility since listing in May 2022. After hitting 52-week low of Rs 530 in Nov 2022, it has rebounded over 50% to current levels of Rs 838 (as of Jan 2024). Price upside was driven by strong financial performance and improved market sentiment. However, competition and market volatility remain key risks.

Determinants of Share Price Movements

  • Financial performance – profits, embedded value, bonus announcements
  • Investment portfolio returns
  • Market share gains vs. private players
  • Product pipeline and new launches
  • Regulatory changes in insurance and capital markets
  • Government divestment plans of LIC stake
  • Broader market sentiment and flows from institutional investors

LIC Share Price Targets

YearShare Price Target
2024Rs 1100-1200
2025Rs 1300-1400
2026Rs 1500-1600
2027Rs 1700-1800
2028Rs 1900-2000
2029Rs 2100-2200
2030Rs 2300-2400
2040Rs 3500-4000
2050Rs 5000-5500

LIC Share Price Target 2024

LIC share price target for end of 2024: Rs 1100-1200

  • Insurance sector projected to grow at 12-15% supported by low penetration levels in India
  • LIC expected to leverage brand strength to gain market share from private players
  • New product launches focused on retirement and child plans to target growth segments
  • Expansion in online sales and bancassurance partnerships to aid premium growth
  • Potential 10-15% stake sale by government through IPO route to boost valuations
  • Steady growth in profits due to investment leverage and underwriting discipline

Key risks: execution of privatization, regulatory changes in product norms and distribution, competition intensity

LIC Share Price Target 2025

LIC share price target for end of 2025: Rs 1300-1400

  • Industry growth outlook strong at 13-16% given India’s protection gap
  • LIC well placed to capture growth riding on its unparalleled distribution reach
  • Further stake dilution of 10-15% by government to improve free float and unlock value
  • Strong growth in new business premiums across key products like term insurance and annuities
  • Product pipeline aligned to tap growing health insurance and ULIP demand
  • Claims ratio projected to remain stable supported by prudent reserving

Monitorables: Market share trends relative to private players, impact of product regulations

LIC Share Price Targets 2026

LIC share price target for end of 2026: Rs 1500-1600

  • India’s life insurance penetration expected to cross 4% by 2026, aiding growth
  • LIC’s continuous product innovation and customization to help retain market leadership
  • Planned expansion into smaller towns and rural markets to drive new policy growth
  • Potential listing gains and increase in free float post further stake sale by government
  • Growth in assets under management to boost overall investment income

Key external risks: Interest rate cycle movements impacting yields, equity market returns

Read nowsuzlon share price target

LIC Share Price Target 2027

LIC share price target for end of 2027: Rs 1700-1800

  • Industry growth estimated at 15-18% by 2027, one of the fastest globally
  • LIC well positioned to ride high growth wave given distribution dominance
  • Increase in geographic reach to aid new customer acquisition
  • Growth in individual agents and bancassurance partnerships to boost productivity
  • Potential value unlocking and investor participation post reduction in government stake
  • Higher dividends or bonus shares possible given steady growth in profits

Monitorables: Product pricing and profitability versus private sector competition

LIC Share Price Target 2028

LIC share price target for end of 2028: Rs 1900-2000

  • Insurance demand expected to remain buoyant with rising financial savings
  • LIC likely to sustain market leadership on the back of brand trust and loyalty
  • Listing gains likely as government divests remaining stake as part of privatization
  • Growth driven by product innovation in pension, retirement and health insurance
  • Focus on operational efficiency and claims management to support profitability

Key risks: Pressure on market share if private players aggressively expand reach

LIC Share Price Target 2029

LIC share price target for end of 2029: Rs 2100-2200

  • India’s life insurance penetration likely to cross global average by 2029
  • LIC well positioned to leverage industry growth potential
  • Completion of privatization process; fully professional management control
  • Rising share of protection based plans in product portfolio to boost profitability
  • Adoption of advanced analytics and AI for customer insight and process automation
  • Growth in high margin products like non-participating plans and annuities

Monitorables: Maintaining distribution strength, managing cost structure

LIC Share Price Target 2030

LIC share price target for end of 2030: Rs 2300-2400

  • Industry growth estimated at 12-14% driven by underpenetrated markets
  • LIC projected to maintain over 50% market share leveraging brand and reach
  • Focus on digitization across customer acquisition, underwriting and claims
  • New bancassurance tie-ups, direct online sales to drive distribution
  • Higher productivity and cost efficiency through technology adoption
  • Steady growth in embedded value and free surplus supporting valuations

Key external risks: Adverse interest rate scenario impacting investment income

LIC Share Price Target 2040

LIC share price target for end of 2040: Rs 3500-4000

  • India expected to emerge among top 3 life insurance markets globally
  • LIC likely to command leadership position anchored on strong brand equity
  • Distribution infrastructure expanded multifold across urban and rural markets
  • Significant improvement in operating metrics like claims ratio and cost structure
  • Higher dividend payouts owing to growth in profits and free surplus

Monitorables: Market share versus private players, industry consolidation impacts

LIC Share Price Target 2050

LIC share price target for end of 2050: Rs 5000-5500

  • India projected among top 2 global insurance markets supported by demographics
  • LIC anticipated to retain 30-40% industry market share due to early mover advantage
  • Substantial growth in AUM driven by rising savings and wider reach across B30 cities
  • Adoption of advanced analytics, IoT and AI to aid growth and efficiency
  • Changes in management control post privatization to usher in agility

Key risks: Execution of long-term strategies, product innovations by competition

Shareholding Pattern

Shareholder Breakdown

  • Government of India: ~94%
  • Financial institutions: ~4%
  • Public & others: ~2%

The Government holds majority stake currently, implying significant control over LIC’s strategy. Its future divestment plans will impact shareholder structure.

Influence on Stock Performance

  • Government policy decisions on divestment, management control, business strategy significantly impact LIC stock.
  • Foreign institutional investor flows also dictate overall market sentiment affecting valuations.
  • Retail and high networth individual participation will grow as government dilutes stake.

Annual Results and Financial Performance

In-Depth Analysis of Recent Annual Results

PeriodMar 2023Mar 2022Mar 2021Mar 2020
Total Revenue786,845.02724,014.50686,091.23625,959.11
Selling/General/ Admin Expenses Total50,679.2844,178.6356,789.1981,196.15
Depreciation/ Amortization466.38436.19718.78778.51
Other Operating Expenses Total-4,569.0861.265,705.488,534.23
Total Operating Expence762,747.27724,976.02686,455.70635,183.30
Operating Income24,097.75-961.52-364.47-9,224.19
Net Income Before Taxes31,897.26-31.812,263.524,228.60
Net Income35,996.654,124.712,974.142,710.48
Diluted Normalized EPS59.235.274.704.29

Steady business growth indicates continued market dominance and financial strength of LIC.

Evaluation of Financial Health

  • High growth in premiums and AUM reflects strong brand equity and customer acquisition.
  • Claim settlement ratio remains high at 98.17%, underscoring robust policy servicing.
  • Healthy profits with high margins driven by investment leverage and positive underwriting.
  • Comfortable solvency ratio at 1.76 against regulatory requirement of 1.50.

Overall LIC exhibits sound financial health backed by leadership position.

Comparative Analysis

LIC has outperformed private peers in terms of premium growth, profitability and valuations:

CompanyPremium GrowthProfit GrowthPE Ratio
HDFC Life5%Flat56.5
SBI Life7%Flat59.2

This indicates LIC’s stronger fundamentals compared to listed private players.

Future Outlook

Expert Opinions and Market Sentiment

  • Brokerages like Motilal Oswal and Emkay have ‘Buy’ rating on LIC with target price of Rs 900-1000.
  • Analysts expect LIC to sustain leadership given brand equity, reach and focus on performance.
  • Market participants see policy and regulatory changes as key risks for LIC.

Growth Drivers and Potential Risks

Key growth drivers:

  • Low insurance penetration in India providing huge growth potential
  • New product pipeline leveraging analytics and digital channels
  • Expanding bancassurance partnerships

However, risks involve:

  • Execution of privatization limiting government support
  • Possible market share loss to private players
  • Disruption from insurtech innovations and new-age players

Risk Assessment

Comprehensive Risk Analysis

  • Market Risks: Competition from private players, pressure on margins and market share
  • Regulatory Risks: Changes in FDI limits, product regulations, government divestment
  • Financial Risks: Investment portfolio returns, interest rate movements
  • Operational Risks: Execution of privatization, retention of key talent

Risk Mitigation Strategies

  • Leverage brand strength and distribution reach
  • Focus on product innovation and customer centricity
  • Invest in technology and digital capabilities
  • Maintain prudent asset liability management
  • Develop bancassurance and agency channel further
  • Proactive tracking of regulatory policy changes


  • LIC maintains dominant position in India’s life insurance sector
  • Strong growth in premiums, AUM and profits indicates sound financial health
  • Valuations attractive compared to private peers
  • Future outlook positive supported by growth drivers

Dynamic industry trends, competitive pressures and regulatory changes necessitate active tracking of LIC’s performance, metrics like market share, product pipeline, profitability, asset quality and valuations. Timely insights allow informed investment decisions.


What is the share price target of LIC in 2025?

Based on growth forecasts, LIC’s share price target for 2025 is estimated to be between Rs 1300-1400.

What is the target of LIC share in 2024?

LIC’s share price target for 2024 is projected to be in the range of Rs 1100-1200.

What is the future prediction of LIC share price?

As per long-term projections, LIC’s share price is estimated to reach Rs 2300-2400 by 2030 and Rs 5000-5500 by 2050, based on factors like industry growth potential, market share trends, and execution of strategic plans.

What is the LIC share price target for 2030?

Based on India’s insurance penetration growth forecasts, LIC’s share price target for 2030 is estimated between Rs 2300-2400.

Is LIC share a good buy for long term?

LIC share offers good long term potential given strong industry growth outlook, market leadership and reasonable valuations. But investors need to assess competitive scenario, execution of privatization and regulatory changes impacting business.


  • LIC Annual Reports
  • Investor Presentations
  • Analyst Reports
  • IRDAI Industry Data

Leave a comment