Lic

LIC rejects USTR's claim of having unfair advantage as state-owned firm

Sovereign guarantee has never been used as a marketing tool for policies, says company

LIC counters Rahul Gandhi, says it's committed to policyholders, agents

Refuting claims of Leader of Opposition Rahul Gandhi, Life Insurance Corporation of India (LIC) has said that it remains dedicated to providing financial security to its policyholders, while also supporting the well-being of its agents. The clarification came a day after some of the LIC agents met the Leader of Opposition and raised certain issues regarding recent changes in rules by IRDAI and LIC, which make insurance less affordable for the poorest and most marginalised communities and weaken the position of agents. "We want to clarify that LIC has introduced products that align with the New Product Regulations set by Irdai, effective from October 1, 2024, keeping policyholders' interests at the forefront," LIC CEO & MD Siddhartha Mohanty said in a statement. LIC has consistently focused on reaching rural areas and economically and socially disadvantaged sections as it is committed to broadening life insurance coverage, he said. "Our aim is to extend financial protection to ...

Rahul meets LIC agents, vows to raise issue of costly insurance for poor

Leader of Opposition Rahul Gandhi met a delegation of LIC agents on Wednesday during which they raised concerns regarding recent changes in rules which make insurance less affordable for the poorest and most marginalised communities and weaken the position of agents. Gandhi asserted that the LIC was formed in 1956 with the aim to provide affordable insurance to all Indians and said he will raise this issue in Parliament to ensure the inclusive vision of the LIC is protected. Gandhi met the delegation at his office in Parliament House complex. "I met a delegation of LIC agents from around the country at Parliament House. They spoke candidly about their concerns regarding recent changes in rules by IRDAI and LIC, which make insurance less affordable for the poorest and most marginalised communities and weaken the position of agents," the former Congress president said in a post on his WhatsApp channel. "When LIC was formed in 1956, the aim was to provide affordable insurance to all .

LIC gains 3% in advance talks with a standalone health insurance company

The filing further read that the corporation is still in advanced talks and no binding agreement has been entered into

LIC names Shatmanyu Shrivastava as chief risk officer, effective March 19

He is a fellow member of the Institute of Chartered Accountants of India and also a fellow of the Insurance Institute of India (qualified in 2000)

Beware! LIC warns customers against fraudulent calls, fake claims

Country's largest insurance company urges customers to avoid divulging sensitive policy or banking details in response to unsolicited communications

Govt is planning to sell 2-3% LIC stake in FY26, may seek extension

The LIC stake sale may be split into two rounds for better value, with the government likely to seek an extension if market conditions turn unfavourable

LIC Smart Pension Plan? FAQs about new retirement planning scheme answered

Annuity payment can be done yearly, half-yearly, quarterly and monthly, says company

LIC suffers Rs 84,000 crore dent in portfolio amid stock market crash

A large portion of the dip is attributed to the over 10 per cent correction in ITC (Rs 11,863 crore), Larsen & Toubro (Rs 6,713 crore) and State Bank of India (Rs 5,647 crore) shares, thus far in CY25

LIC's Q3 FY25 results: Net profit rises 17% to Rs 11,056.5 crore

Its expenses declined 20.76 per cent Y-o-Y to Rs 14,415.80 crore, aided by a nearly 30 per cent drop in employee-related expenses

LIC Q3 FY25 results: Net profit increases 17% to Rs 11,056 crore

Employee compensation and welfare expenses dropped 30% on year to Rs 6,691 crore

Q3 results today: LIC, M&M, and Mazagon Dock to post earnings on Feb 7

Q3FY25 company results, February 7: Edelweiss Financial, Delhivery, Sun TV, Ola Electric Mobility, and Dreamfolks Services will be among 234 companies releasing report for the Oct-Dec quarter

Life Insurance Corporation gets GST demand notice of Rs 105.42 cr

Life Insurance Corporation of India (LIC) on Wednesday said it has received a demand notice of about Rs 105.42 crore for short payment of Goods and Services Tax (GST) for seven financial years. The company has received a communication/demand order for interest and penalty for several states on February 5, LIC said in a regulatory filing. The order is appealable before the Commissioner (Appeals), Lucknow, it said. The demand notice pertains to seven financial years between 2017-18 and 2023-24, it said. The financial impact of the demand is to the extent of the GST, interest and penalty. There is no material impact on financials, operations or other activities of the corporation, it said.

Life Insurance Corporation gets GST demand notice of Rs 101.95 crore

Life Insurance Corporation of India (LIC) on Tuesday said tax authorities have slapped a demand notice of about Rs 101.95 crore on it for short payment of Goods and Services Tax (GST) for five financial years. The company has received a communication/demand order for interest and penalty for several states, LIC said in a regulatory filing. The order is appealable before the Commissioner (Appeals), Thane, it said. The demand notice pertains to five financial years between 2017-18 and 2021-22, it said. The financial impact of the demand is to the extent of the GST, interest and penalty. There is no material impact on financials, operations or other activities of the corporation, it said.

Reform inefficient succession processes to ease burden on grieving families

The inefficiency of current succession processes not only frustrates grieving families but also undermines the government's ease-of-living agenda

Pension fund market needs diversification: DFS Secretary M Nagaraju

"Ninety per cent of assets are concentrated in only three pension fund managers - SBI, LIC, and UTI," M Nagaraju said

Life insurance Dec new biz premium falls 21.7% to Rs 30,218.71 crore

LIC's premium fell 41.15 per cent Y-o-Y to Rs 13,523.87 crore, while private insurers reported 7 per cent Y-o-Y growth in NBP to Rs 16,694.85 crore

Stocks to Watch, Jan 9, 2025: TCS, TaMo, M&M, Manappuram Finance, LIC, MOIL

Stocks to Watch, Jan 9, 2025: From Tata Motors to Manappuram Finance, here are few stocks that will be on investors' radar today

LIC's Bima Sakhi scheme crosses 50,000 mark within a month of launch

The initiative launched by Prime Minister Narendra Modi on December 9

LIC has Rs 880 cr unclaimed by policyholders: How to check your status

372,282 policyholders have not claimed their maturity benefits, Parliament is told