Life Insurance Corporation (LIC) has ranked as the fourth largest life insurer in the world, according to a new ranking, on the basis of life and accident & health reserves, by S&P Global Market Intelligence.
Companies on the list have been ranked by life and accident & health reserves in 2022 which indicates their financial strength.
Life and accident & health reserves generally represent a liability to provide for future commitments under outstanding policies.
The importance of LIC’s ranking is reflected in the fact that MetLife Inc., the largest life insurance company based in the US, ranks seventh on the list of the largest global life insurers. Prudential Financial Inc., the second-largest life insurance company headquartered in the US is placed eighth in the ranking.
