Life Insurance Corporation of India (LIC) share price fell on Friday, a day after the insurer said its Indian embedded value (IEV) for March has been pegged at Rs 5.41 lakh crore. LIC reported the Indian Embedded Value (IEV) at Rs 5,41,492 crore (Rs 5.41 trillion) as of March 31, 2022, as compared to Rs 5.39 trillion as of September 2021 and Rs 95,605 crore as of March 31, 2021.

“The rising interest rate has impacted the value of bonds, government securities and other fixed income papers. These have been factored in while calculating the latest Indian embedded value of LIC. The mark-to-market losses have been around Rs 40,000 crore since September till 31 March, 2022. However, the policy sales business has grown and that’s how the net growth in EV is Rs 2,000 crore,” LIC’s Managing Director Raj Kumar told reporters.

The Embedded Value (EV) is a measure of the consolidated value of shareholders’ interest in the life insurance business. It represents the present value of shareholders’ interests in the earnings distributable from the assets allocated to the business after sufficient allowance for the aggregate risks in the business.

“The Indian Embedded Value (IEV) determination exercise has been completed. The IEV report issued by Milliman Advisors LLP has been adopted by the board on July 14, 2022,” Kumar added.

Going forward, the IEV will be disclosed on six monthly basis, that is, at the end of March and September, every year, he said. As of September 30, 2021, the corporation’s embedded value stood at Rs 5,39,686 crore.

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By MD Abdullah

Abdullah is a former educator, lifelong money nerd, and a Plutus Award-winning freelance writer who specializes in the scientific research behind irrational money behaviors. Her background in education allows her to make complex financial topics relatable and easily understood by the layperson. She is the author of four books, including End Financial Stress Now and The Five Years Before You Retire.

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