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LIC plans Rs 130-bn capital injection in IDBI Bank; Irdai may ease 15% rule

The board of Irdai, which is meeting on Friday, may grant exemption to LIC from the rule that bars an insurer from holding more than 15% equity stake in any company

LIC may enter banking space; eyes majority stake in IDBI Bank

While a final decision is yet to emerge on whether LIC would be snapping up over 50 per cent stake in IDBI Bank, official sources said the preliminary contours of such a plan is being worked out

Life Insurance Corp trims stake in Sterlite Technologies by 2% to 3.3%

LIC sold the stake between November 21, 2007 and March 27, 2018

LIC to reduce exposure in Tata Sons

A Tata Sons spokesperson declined to comment but insiders said the group is in talks with other lenders on alternative fundraising

LIC may get Irdai breather on 15% investment cap in public sector banks

Insurance sector regulator is open to allow Life Insurance Corporation of India (LIC) to increase its stake beyond the 15 per cent ceiling in public sector banks (PSBs). The move is to give a boost to the government's recapitalization plan, an initiative to help banks tackle bad loan woes and revive growth.The Insurance Regulatory and Development Authority of India (Irdai) has a 15 per cent equity shareholding in single stocks. Currently, LIC's holding in a dozen PSBs is between 10 per cent and 14 per cent. Irdai's relaxation could allow the insurance behemoth participate in their capital raising programme of state-owned banks, who are looking to raise Rs 58,000 crore in equity capital.Sources said Irdai's relaxation on investment ceiling is likely to come with caveats. "Prior approval might be needed for investments above the 15 per cent ceiling. The insurance regulator could vet such investments so ensure that interests of policy holders are not compromised," said a regulatory ...

LIC insurance for New India Assurance's mega IPO

Life Insurance Corporation of India (LIC) has again acted as a white knight, to ensure success of The New India Assurance Company's Rs 9,600-crore Initial Public Offering (IPO), through which the Centre is eyeing Rs 7,680 crore.New India garnered full subscription on Wednesday for its IPO, the country's fourth largest. It was the issue's first day and got bids for 125 million shares, as against 120 mn on offer. However, the bulk of the bids were from domestic institutional investors (DIIs), mainly LIC. Excluding DII bids, all others were worth a little less than Rs 230 crore, about 2.4 per cent of the issue size."LIC through multiple brokers has placed large bids. The total application size of LIC could be anywhere between Rs 8,500 crore and Rs 9,500 crore. LIC's investment is crucial to ensure that the offering sails through, as overseas investor participation in recent IPOs has been muted," said an investment banker, asking not to be named.A text sent to a senior LIC official to ...

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Conservative investors and those in the lower tax bracket should opt for these

LIC reduces stake in Raymond by 2.01%

LIC had 5.53% stake, brought down its shareholding in the apparel major to 3.51%

LIC buys more shares in FMGC major Nestle India, total stake now at 5%

The Nestle India stock closed 0.02% up at Rs 6,618.70 on the BSE

LIC to offload excess stake in firms in 2 years

Insurer needs to dilute stakes worth Rs 9,000 cr in 12 companies to comply with 15% shareholding cap

LIC picks 3% additional stake in BoI for Rs 451 crore

The BoI sold 33,500,000 shares equivalent to over 3.12% equity to LIC

LIC settles 99.92% of death claim cases, sets record high

LIC is keen to push the boundary further, looking to settle 99% claims on a monthly basis in future

Plea against LIC stake in ITC: FinMin, Sebi to be made parties

ITC allegedly derives 80% of its revenue from sale of cigarettes

LIC posts 27% growth in first year premium in FY17

LIC's market share in terms of number of policies stood at 76.09%, up from 74.72% last year

The LIC-ITC case: Taking action for responsible investments

Tata group has also come under pressure from civil society groups for its Dhamra Port in Odisha

LIC to soon get bankers on board for managing lending operations

LIC has been into business of insurance but they don't have expertise on loan risk assessment

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