Here’s how much insurance firms earn per employee 

When it comes to revenue per employee, ICICI Prudential Life Insurance tops the chart with each employee contributing Rs 18.98 lakh, according to the Draft Red Herring Prospectus (DRHP) recently filed by Life Insurance Corporation of (LIC). Following ICICI Prudential Life are SBI Life, HDFC Life and Max Life earning Rs 13.86 lakh, Rs 8.01 lakh and Rs 4.53 lakh per employee. LIC stands fifth in the row with each employee contributing Rs 2.54 lakh to revenue. Having said that LIC has the highest number of employees at 1.14 lakh, while SBI Life, HDFC Life and ICICI Prudential Life and Max Life have 17,464, 20,636, 14,313 and 14,000 employees, respectively.  

When it comes to agents, LIC had the highest agent productivity by premiums at Rs 413,000 per agent in fiscal year 2021. In terms of number of policies each agent sold 15.3, which is four times the average private insurer. 

Compared to this SBI Life, HDFC Life and ICICI Prudential Life sold 3.9, 1.3 and 0.9 policies for FY21. In terms of New Business Premium agent productivity for FY 21 stands at Rs 2,30,140 for SBI Life, Rs 1,12, 714 for HDFC Life and Rs 1,02,356 for ICICI Prudential Life. 

LIC is expected to be the largest IPO to be listed in India, touted by many to be India’s Aramco moment. As per the DRHP, the government-owned insurer will have up to 31,62,49,885 (31.62 crore) equity shares of the face value of Rs 10 on offer through the offer for sale (OFS), representing 5 per cent of equity stake. There will be no fresh issue of shares. The DRHP also disclosed the LIC's embedded value at Rs 5,39,686 crore as of September 30, 2021. 

However, LIC recorded the highest New Business Premium (NBP) per employee at Rs 1.60 crore in fiscal year 2021. Followed by SBI Life at Rs 1.20 crore and HDFC Life at Rs 99 lakh.