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Insurance behemoth Life Insurance Corporation on Wednesday said the exercise of determining its embedded value as of March 2022 is on and is likely to be completed by July 15.
It is informed that the exercise of determining the Indian Embedded Value (IEV) as on March 31, 2022, may take some more time to get completed, LIC said in a statement.
"Once completed and after requisite approvals, the required public disclosures of the same, will be made in this regard, by LIC of India. As of now, we expect the required public disclosures, to be made by July 15," it said.
The embedded value (EV) is a measure of the consolidated value of shareholders' interest in the life insurance business.
It represents the worth of shareholders' interests in the earnings distributable from the assets allocated to the business after sufficient allowance for the aggregate risks in the business.
LIC's embedded value was pegged at about ₹5.4 lakh crore as on September 30, 2021 by international actuarial firm Milliman Advisors.
Last month, the government raised about ₹20,500 crore by diluting its 3.5 percent stake in the insurer through the biggest ever IPO.
Following the listing, LIC on a standalone basis reported a 18 per cent decline in its net profit at ₹2,371.55 crore in the quarter ended March 2022, compared to ₹2,893.48 crore in the year-ago period.
On a consolidated basis, the profit after tax dropped 17 per cent to ₹2,409 crore for the fourth quarter ended March 2022 from ₹2,917 crore in the same quarter a year ago.
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