Life Insurance Corporation Of India

Wednesday, Apr 24, 2024 | Last Update : 11:10 AM IST

Life Insurance Corporation of India

The LIC public issue is expected to be the biggest IPO in the history of the Indian stock market. (PTI)

Govt amends FEMA rules to allow 20 pc FDI in LIC

The government is planning to dilute its stake in LIC through the Initial Public Offering

18 Apr 2022 12:23 AM

The changes have been made by the Department of Financial Services under the finance ministry by amending Life Insurance Corporation of India (Employees) Pension (Amendment) Rules. Besides, some other rules under LIC Act, 1956, have been amended. (PTI Photo)

LIC to have CEO, MD positions; government does away with Chairman post

The Department of Economic Affairs under the finance ministry recently amended the Securities Contracts (Regulation) Rules

08 Jul 2021 5:38 PM

LIC bats for a unified regulator to oversee all of India's financial sector

The insurer is of view that the regulatory process in all these sectors need to be simplified

10 Nov 2020 10:43 AM

The government on February 1 had proposed to issue shares in LIC through an IPO to meet its highest ever disinvestment target of Rs 2.1 lakh crore, set in the Union budget for 2020-2021.

LIC IPO may get delayed, says Fitch Ratings

LIC has a premium-based market share of almost 70 per cent in life insurance sector.

27 Feb 2020 4:28 AM

Life Insurance Corporation of India (LIC) continues to outperform private life insurers in settling individual claims even as its claim settlement ratio dipped to 97.79 per cent in FY19 compared to 98.04 per cent as at FY18. (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 previous year.

18 Dec 2019 2:35 AM

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

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 hard-earned money.

07 Nov 2019 2:56 AM

Public sector behemoth Life Insurance Corporation of India (LIC) is about to close over two dozen individual insurance products, eight group insurance plans and seven to eight riders on November 30. (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 November 30.

04 Nov 2019 1:49 AM

These plans will be revised and relaunched in line with the insurance regulator’s revised customer-centric product guidelines in the course of the next few months. (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 Lakshya and Jeevan Labh.

04 Nov 2019 1:03 AM

In the policyholders account, investments in long-term government securities and bonds rose to Rs 17.80 lakh crore compared to 16.17 lakh crore. (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

On the other hand, private life insurance companies grew their new business premium by 46 per cent growth to Rs 9,631 crore during the period led by growth in both individual and group businesses.

Insurers witness a bumper start

Top private players continued to grow in double digits.

13 Jun 2019 1:11 AM

LIC’s 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.

07 May 2019 5:07 AM

LIC lost market share to private players and its market share stands at 66 per cent during 2018-19.

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

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

20 Apr 2019 12:58 AM

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 Mar 2019 1:41 AM

The Bank has a high proportion of bad loans.

RBI categorises IDBI as private sector bank

LIC acquisition of majority stake prompts reclassification.

15 Mar 2019 1:25 AM

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Sanjeev Ahluwalia