In 5 yrs, we'd like to be No. 1 in bancassurance: LIC chairperson MR Kumar

We firmly believe that once the market stabilises, our inherent strength and performance will be recognised

Life Insurance Corporation of India (LIC) hit the market with its initial public offering (IPO) just over a month ago. Since then, the value of the insurance behemoth’s shares has eroded significantly. In an interview, LIC’s Chairperson M R Kumar talks to Subrata Panda on a range of issues — from the reasons for the stock’s underperformance to whether the IPO could have been timed better. Edited Excerpts: 

LIC’s shares were listed at Rs 875.45 apiece and they are now trading at Rs 654.70 (Friday’s closing price), down around 25 per cent. What explains this erosion?

The markets have been very