Page 2 - Life Insurance Corporation Of India Lic

LIC share price down 3% on GST demand order worth Rs 57 crore; details here

The fall in the LIC share price came after the company announced that it has received a communication/demand order for Goods & Service Tax, Interest and penalty for Delhi State worth about Rs 57.28 cr

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 launches smart pension plan offering range of annuity options

State-owned Life Insurance Corporation of India (LIC) on Tuesday launched a single-premium smart pension plan that offers a range of annuity options for Single Life as well as Joint Life type of annuities. The plan was launched by Financial Services Secretary M Nagaraju along with Siddhartha Mohanty, CEO & MD of LIC, in presence of senior officials of the finance ministry and LIC. The Non-Par and Non Linked plan has several liquidity options available for partial/ full withdrawal as per terms of policy, LIC said in a statement. The Minimum Purchase Price is Rs 1,00,000 with incentives for higher purchase price and modes of annuity payments allowable are yearly, half yearly, quarterly or monthly, it said. An option to take immediate annuity by NPS subscriber is a special feature, it said. The options available on survival of the annuitant varies as per the annuity option chosen at the time of inception. The amount payable after death of annuitant will be as per the option chosen b

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

LIC Mutual Fund introduces open-ended multi asset allocation fund

LIC Mutual Fund on Friday launched its Multi Asset Allocation Fund, an open-ended scheme that invests in equity, debt, and gold to achieve long-term capital appreciation. The New Fund Offer (NFO) opened on January 24 and will conclude on February 7. The scheme will reopen for continuous sale and repurchase on February 18, the company said in a statement. The scheme's benchmark is a combination of 65 per cent Nifty 500 TRI, 25 per cent Nifty Composite Debt Index, and 10 per cent domestic gold prices, it added. "Hybrid mutual funds saw a 27 per cent surge in assets under management in 2024, increasing from Rs 6.90 lakh crore in January to Rs 8.77 lakh crore in December according to data published by Association of Mutual Funds in India (AMFI). "The multi-asset allocation funds saw significant growth in the AUM under hybrid category. Currently, this reflects a clear investor inclination towards hybrid funds and our new fund is ideally suited to cater to their interests," R K Jha, ...

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

LIC reduces 1st-year agent payout to 28% after surrender value revision

First insurer to change commission after revision in surrender value norms

LIC earmarks Rs 600 crore for digital shift; to be 'paperless' in 2 years

LIC has appointed Boston Consulting Group as a consultant

Munjal Auto gets tax demand notice of Rs 6.7 cr from Haryana GST authority

Munjal Auto Industries is among many companies hit with tax notices within the last week. The company intends to appeal the GST notice

Yuva Term to Digi Term: LIC launches new products across categories

In a separate exchange filing, the life insurer stated that its Bangladesh office will be closed from August 5, 2024, to August 7, 2024

LIC launches project 'Jeevan Samarth' to meet customers' evolving needs

The life insurance giant has partnered with A T Kearney to undertake the transformation project by reviewing the existing agency framework of LIC on an end-to-end basis

LIC to enter health insurance market via private health insurer: Report

Earlier, LIC Chairman Siddhartha Mohanty had spoken about exploring "inorganic" options for the company's foray into the health insurance segment

LIC Q4 results: Net profit rises 2.5%, dividend declared at Rs 6 per share

The government who is the largest shareholder in the company will get a dividend of Rs 3,662 crore

LIC stock up 5.5% as Sebi gives 3 more yrs to meet public shareholding norm

LIC news: The revised timeline for LIC to achieve 10 per cent public shareholding is on or before May 16, 2027

LIC, GIC Re and New India Assurance Company retain the 'D-SII' tag

D-Slls are insurance companies which are perceived as 'too big or too important to fail'(TBTF) based on their size, market importance, and domestic and global interconnectedness

LIC world's strongest insurance brand: Brand Finance Insurance Report

According to the report, Cathay Life Insurance is the second strongest brand, with a 9 per cent increase in brand value to $4.9 billion

Front running case: LIC fires employee banned by Sebi from stock market

Markets regulator Sebi had last year found that a dealer in LIC, was in possession of non-public information regarding impending orders of LIC and acted as an information carrier

Valuation adrift: Uncharted course of low-float PSU rally, shows data

10 PSUs, with public shareholdings below 14%, ride the current, rallying 76% to 4.5 times

LIC gets tax refund of Rs 21,740 crore from Income Tax department

Out of this, the Income Tax Department has released Rs 21,740.77 crore. The company further added that it is pursuing the balance with the Income Tax Department

LIC expects income tax refund of Rs 25,464 cr in Q4, says chairman

Life Insurance Corporation of India has received an income tax refund order of Rs 25,464 crore, and it is likely to be realised during the current quarter, its chairman Siddhartha Mohanty said. Last month, the Income Tax Appellate Tribunal (ITAT), Income Tax Department, issued intimation for a refund of Rs 25,464.46 crore. The refund is related to interim bonuses to policyholders in the past seven assessment years. "We are pursuing the matter, and we are hopeful of getting a refund from the Income Tax Department during this quarter itself," Mohanty said during the post-result interaction. During the quarter, he said, the Life Insurance Corporation of India (LIC) would be launching more new products, including child protection. In the third quarter, LIC launched Jeevan Utsav, Index Plus and some more products, helping it to increase the value of new business (VNB) margin levels to 16.6 per cent. The refund is likely to boost the bottom line of the corporation in the fourth quarter.