Page 36 - Lic

LIC's new premium policy growth jumps 26% to Rs 1.2 lakh crore in FY17

State-run insurance behemoth witnessed degrowth in terms of policies during the year under review

UTI MF set to be first domestic asset management company to bring an IPO

Key stakeholders like SBIon board; LIC also gives conditional approval

LIC to step up income from non-single premium in FY18

ABHIJIT LELECountry's largest life insurer Life Insurance Corporation of India (LIC) will step up sale of non-single premium policies to about 25 per cent in 2017-18 to bring balance in business growth profile.V K Sharma, chairman, LIC said State-owned insurer has already met target for new business premium for FY17 and now is concentrating efforts to grow income from non-single premium for this year (2016-17) itself.The same thrust would be maintained in 2017-18 and expect the growth for non-single premium stream (Individual as well group segment) of over 25 per cent, Sharma told reporters on sidelines of Insurance Summit organized by FICCI.The income from non-single premium segment saw 8.16 per cent growth at Rs 13,646 crore in April-December 2016 as against Rs 12,617 crore in April-December 2015. The pace of expansion in group non-single premium was better at 53.34 per cent in April-December 2016. It garnered premium of Rs 3,220 crore in nine months of FY17, up from Rs 2,100 crore .

LIC goes slower on equities in FY17

Single premium segment boosts income to Rs 1.45 lakh crore

LIC clocks Rs 16k-cr profit through equity investments in April-Dec 2016

Chairman V K Sharma expects Rs 35,000 cr in new business premium by March-end

Life insurers' first-year premium up 28% in January

There are 24 life insurers in the country, of which only one LIC, is state-owned.

Hemant Bhargava appointed as LIC managing director

He has been appointed by the Appointments Committee of the Cabinet

Hemant Bhargava appointed as LIC's MD

The top LIC management consists of the chairman and three managing directors

LIC hikes gratuity to Rs 3 lakh to retain fleeing agents

So far, the corporation has added 45,000 agents on a net basis this year

LIC HF: Loans against property prop up show

However, margins may not sustain amid rising competition and stable bond yields

V K Sharma appointed LIC chief for 5 years

Sharma served as LIC's MD since November 2013; S K Roy, previous chairman, resigned in June, nearly 2 years ahead of his retirement

LIC hikes stake in Bata to 7.05%

LIC had 5.02 per cent stake in Bata India earlier

Demonetisation: LIC extends grace period for premium payment

Renewal premium of policies, where grace period ends between November 9 and 30, can now be paid without penal interest if payment is made before November 30

Value of LIC's holding rises 4% in Sept quarter

Though the rise in valuation was in line with the rise in the benchmark indices, LIC has underperformed the broader market

Govt's disinvestment lifeline: LIC of India

State-run insurer has been the biggest subscriber of all three government stake sales this financial year

LIC buys over 50% of NBCC shares, invests Rs 1,200 cr

LIC's stake in the state-run construction firm has gone up to 8.11% following its participation in NBCC

LIC loses 20% agents in six years

The number of active LIC agents as on March 31, 2016, was 1,018,039 against 1,081,495 on a year-on-year basis

LIC turns white knight for PSB capital infusion

UCO Bank said that it would sell 71.7 million shares to LIC on a preferential basis, which could fetch about Rs 270 crore to the bank

LIC unveils new money-back plan to mark diamond jubilee

Plan is available for sale until August 31, 2017

V K Sharma gets additional charge as LIC chairman

Few months ago, current chairman S K Roy had written to the government to relieve him of his duties; reason remains unknown