LIC may look at entering health, non-life insurance businesses: Source

Says insurance giant is well-placed to make most of a composite license; in fact it was a composite insurer till early 1970s, when Oriental Insurance was carved out

The Life Insurance Corporation of India (LIC) has the wherewithal to acquire a composite license, a top source aware of the development told Business Standard, adding that the insurance behemoth may look into entering the health and general insurance segments.

“LIC has the scale, capacity, IT infrastructure, and the distribution reach to take advantage of the composite license. LIC is looking at organic as well as inorganic growth opportunities. And it should be ready to take advantage of any business opportunity coming its way,” the source said.

“We will take it to the board at the appropriate time and seek