Page 3 - Lic

Govt plans additional LIC stake sale through OFS; talks in early stage

At present, the government owns 96.5% of LIC. In May 2022, it sold a 3.5% stake through an IPO, priced between ₹902 and ₹949 per share

Three nationalisations: Lessons from govt's approach to SBI, LIC, Air India

A common factor uniting the three entities is that they all belonged to the services sector

FSIB recommends R Doraiswamy as LIC MD & CEO; Cabinet to give final nod

FSIB has proposed LIC MD R Doraiswamy for the top role of MD & CEO, with the Appointments Committee of the Cabinet set to take the final call amid a wider leadership reshuffle

Overexposure to group business a challenge for LIC, say analysts

LIC's solvency ratio rose to 211 per cent in FY25 from 187 per cent in FY23

Consumer protection: Insurer must prove, not infer, pre-existing ailments

The State Commission noted it could not be inferred from the medical certificate that these ailments were present when the policyholder purchased the policies

Sat Pal Bhanoo takes interim charge as LIC MD & CEO for three months

Following Siddhartha Mohanty's term completion, Sat Pal Bhanoo has been given interim charge as LIC MD & CEO for three months or until a new incumbent is appointed

LIC appoints Ramakrishnan Chandar as new Chief Investment Officer

As CIO of the Life Insurance Corporation of India, Ramakrishnan Chandar will oversee one of the country's largest investment portfolios spanning multiple asset classes

LIC tops PSUs chart with record Rs 19,013 crore profit in Q4FY25

State-owned Life Insurance Corporation of India (LIC) has emerged as the highest profit making company among PSUs in March quarter FY25, netting a little over Rs 19,000 crore. Last week, LIC reported 38 per cent jump in net profit for January-March FY25 at record Rs 19,013 crore as compared to Rs 13,763 crore in the corresponding quarter in the previous year. The insurance behemoth was followed by the country's biggest lender State Bank of India (SBI) with Rs 18,643 crore profit during the fourth quarter. However, SBI was ahead of LIC in terms of annual profit as it earned Rs 70,901 crore in FY25 as against Rs 48,151 crore of LIC. Among other PSUs, Coal India earned a net profit of Rs 9,604 crore in the quarter followed by Power Finance Corporation (PFC) earning Rs 8,358 crore and NTPC Rs 7,897 crore, as per the data available on stock exchanges. In the oil sector, Indian Oil Corporation (IOC) closed the fourth quarter with a net profit of Rs 7,265 crore followed by exploration gi

4 top valued firms see ₹1 trn jump in market valuation, LIC biggest winner

The combined market valuation of four of the top-10 most valued firms jumped Rs 1,01,369.5 crore last week, with Life Insurance Corporation of India (LIC) emerging as the biggest gainer, in an otherwise sluggish trend in equities. Last week, the BSE benchmark declined 270.07 points or 0.33 per cent. While HDFC Bank, Bharti Airtel, State Bank of India and LIC were the gainers in terms of addition to their market valuation, Reliance Industries Ltd, Tata Consultancy Services (TCS), ICICI Bank, Infosys, Bajaj Finance and Hindustan Unilever Ltd faced a combined erosion of Rs 34,852.35 crore on the other hand. The market valuation of LIC surged Rs 59,233.61 crore to Rs 6,03,120.16 crore, the most among the top-10 firms. State Bank of India added Rs 19,589.54 crore to Rs 7,25,036.13 crore in its valuation. The market capitalisation (mcap) of Bharti Airtel jumped Rs 14,084.2 crore to Rs 10,58,766.92 crore and that of HDFC Bank climbed Rs 8,462.15 crore to Rs 14,89,185.62 crore. However,

LIC picks up Adani Ports and Special Economic Zone's entire Rs 5K cr issue

LIC fully subscribes to Adani Ports' Rs 5,000 crore 15-year bond issue at 7.75% in a privately negotiated deal, as other firms struggle to raise targeted amounts

LIC eyes higher non-par product mix to boost margins post Q4 surge

Life Insurance Corporation sees strong profit growth in Q4FY25 and plans to increase focus on high-margin non-par products while expanding its agent base and channel mix

LIC Q4 results: Net profit jumps 38% to Rs 19,013 cr, income falls 3.71%

However, LIC's total income for the quarter fell to ₹241,625 crore, compared to ₹250,923 crore during the corresponding period last year, the insurer revealed in a regulatory filing

LIC portfolio recovers ₹1.8 trillion amid market rebound from April lows

LIC's top equity holding in terms of value, Reliance Industries (RIL), has been one of the biggest contributors in its portfolio, with the stock's 25 per cent surge adding ₹26,515 crore in value

LIC's top management set for June reshuffle; govt appoints 2 new MDs

LIC will see key leadership changes in June with two new MDs replacing outgoing executives and current MD & CEO Siddhartha Mohanty's term ending on 7 June

LIC eases claims process for families of Pahalgam terror attack victims

Insurer will accept any evidence from government records confirming death of a policyholder in attack

LIC relaxes claim settlement rules for victims of Pahalgam terror attack

Life Insurance Corporation on India on Thursday announced relaxation in claim settlement procedure for victims of Pahalgam terror attack. The dastardly terror attack that took place on Tuesday in Kashmir's Pahalgam killed 26 people, mostly tourists. Expressing grief over the death of citizens in the terror attack, LIC in a statement said it is committed to supporting those affected and will expedite claim settlements to provide financial relief. LIC CEO & MD Siddhartha Mohanty said the insurance company announced many concessions to mitigate the hardships of the claimants of LIC policies. In lieu of death certificates, any evidence in government records of death of the policyholder due to the terrorist attack or any compensation paid by central/state government will be accepted as proof of death, he said. All efforts will be taken to ensure that the claimants are reached out and claims are settled expeditiously to the affected families, it said. For further assistance, the ...

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