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LIC to acquire ‘substantial’ stake in pure health insurer, announcement likely by March 31

LIC to acquire ‘substantial’ stake in pure health insurer,...

Public sector behemoth Life Insurance Corporation of India (LIC) is in the final stage of discussions to acquire a...

18 March 2025 10:24 PM IST

Finance minister Nirmala Sitharaman

Rs 25,000 crore fund to help revive stalled housing projects

The move will help relieve financial stress faced by large number of middle-class homebuyers who have invested their...

7 Nov 2019 2:56 AM IST

Life Insurance Corporation may be roped in to participate in the Rs 2.11 lakh crore recapitalisation initiative for public sector banks (PSBs). (File Photo)

LIC plans to scrap many key schemes from December 1

LIC's insurance agents are pushing the existing products hard, asking customers to buy them before they close on...

4 Nov 2019 1:49 AM IST

Life Insurance Corporation may be roped in to participate in the Rs 2.11 lakh crore recapitalisation initiative for public sector banks (PSBs). (File Photo)

LIC to withdraw many products from November 30

Among the retail products that would be closed are some of LIC's best sellers such as Jeevan Anand, Jeevan Umang, Jeevan...

4 Nov 2019 1:03 AM IST

Life Insurance Corporation may be roped in to participate in the Rs 2.11 lakh crore recapitalisation initiative for public sector banks (PSBs). (File Photo)

LIC tops claims settlement ratio

For LIC, the proportion of repudiations has come down to 0.43 per cent in 2018-19 compared to 0.67 per cent in the...

18 Dec 2019 2:35 AM IST

Finally, this resulted in the mad rush among the people for cover and they came forward in big numbers to buy expiring LIC products.

LIC mops up over Rs 1,380 crore in a day

The hefty collection came to the insurer for a reason.

10 Dec 2019 1:25 AM IST

As LIC has been maintaining a huge balance sheet of Rs 29.67 lakh crore, each MD looks after one particular segment, be it products, investments or sales. (File Photo)

LIC top posts may stay vacant

Also, the largest life insurer has to look after recently bought IDBI Bank where LIC is the largest shareholder.

26 March 2019 1:41 AM IST

The Reserve Bank last month put IDBI Bank under watch by initiating Prompt Corrective Action against it.

RBI categorises IDBI as private sector bank

LIC acquisition of majority stake prompts reclassification.

15 March 2019 1:25 AM IST

A term plan is typically a pure insurance plan with no investment benefits, surrender value, or maturity benefit.

LIC grows 6 per cent, private insurers see 22 per cent rise

Private insurers hold one-third market, LIC wields two-thirds.

20 April 2019 12:58 AM IST

LICs stake went up in seven Sensex companies during Q4. They are: Bajaj Auto; Mahindra & Mahindra; Kotak Mahindra Bank; HDFC Bank; ONGC; Coal India; and ITC.

LIC books profit in Sensex firms in Q4

In Punjab National Bank, not a Sensex stock, the LIC stake came down from 8.89 per cent to 7.34 per cent.

7 May 2019 5:07 AM IST

Life Insurance Corporation may be roped in to participate in the Rs 2.11 lakh crore recapitalisation initiative for public sector banks (PSBs). (File Photo)

LIC profits from investments double in Q4

The balance sheet of LIC in FY19 stood at Rs 30.55 lakh crore compared to Rs 27.91 lakh crore in FY18.

28 Jun 2019 2:41 AM IST

Following the November 8-9 demonetisation, the government over the weekend asked public sector insurers to provide discounts of up to 10 per cent on the premium amount for general insurance policies and 8 per cent in new life policies of Life Insurance Corporation sold online.

Insurers witness a bumper start

Top private players continued to grow in double digits.

13 Jun 2019 1:11 AM IST