Explanation:

• The state-owned insurance behemoth ‘Life Insurance Corporation (LIC)’ has emerged as the third strongest and the tenth most valuable insurance brand globally, in Brand Finance Insurance 100 report for 2021.
• The brand value of LIC increased by almost 7 percent to $8.65 billion in 2021.
• The annual report is released by London-based brand valuation consultancy firm Brand Finance, to identify the most valuable and strongest insurance brands globally.