LIC

Based in Mumbai, LIC is widely regarded as one of India's flagship insurance operators. Its scale — about 115k people, around $93B in turnover — translates into genuine strategic weight across Asia Pacific.

Management's emphasis on operational discipline — tight working capital, focused capex, clearer ESG roadmaps — is increasingly visible in margin trajectory.

“LIC is, in its category, exactly the kind of compounding regional champion the next decade of capital allocation will reward.”

Capital markets have started to price in the durability of the model, and rating agencies have followed.