As its stock awaits a fresh embedded value, India's largest insurer wants to strengthen bancassurance and diversify its product mix. But changing the mindset of the organisation and its agents is unlikely to happen soon
Nearly a month after the Life Insurance Corporation (LIC) of India stock was listed on May 17, its chairperson Mangalam Ramasubramanian Kumar did rare media rounds, to clarify to investors why the stock of the country’s largest insurer had eroded 31 percent in value from its issue price—and underperformed market indices by more than five times—during this period.