Page 11 - Life Insurance Corporation

LIC Q1 net profit jumps multifold to Rs 9,544 cr; GNPA eases to 2.48%

The net premium income of LIC was almost flat at Rs 98,362.75 crore, compared to Rs 98,351.76 crore in the corresponding period of last year

Employees' State Insurance Corporation adds 20.23 lakh new members in May

Employees' State Insurance Corporation (ESIC) has added 20.23 lakh new subscribers in May 2023, according to the latest payroll data. The provisional payroll data of ESIC reveals that 20.23 lakh new employees have been added in May 2023, a labour ministry statement said. Around 24,886 new establishments have been registered and brought under the social security umbrella of the Employees' State Insurance Corporation in May 2023, thus ensuring more coverage, it stated. According to the data, more jobs have been generated for the youth of the nation as out of the total 20.23 lakh employees added during May 2023, 9.40 lakh employees up to the age group of 25 years constitute the majority of new registrations, which is 47 per cent of the total employees. Gender-wise analysis of payroll data indicates that the net enrolment of female members has been 3.96 lakh in May 2023. The data also revealed that a total of 71 transgender employees have got registered under ESI Scheme in May 2023. I

Life insurance stocks up on decent growth prospects in first quarter

But analysts' target prices suggest limited upside in HDFC Life and ICICI Pru Life, and between 15-20 per cent for SBI Life, Max Life and LIC

Life Insurance Corporation's new business premium grows 21% in June

For the 26 private life insurers, the group yearly renewable premium for June grew by 47 per cent to Rs 933.30 crore

Nifty PSE index notches new high; add these 5 stocks for up to 20% gains

Life Insurance Corporation of India and Bharat Electronics may see up to 10 per cent rally in coming sessions.

Centre initiates talks with global investors over LIC business prospects

Move could be a precursor to further dilution of stake in the insurance major

LIC announces relaxations to mitigate hardships for victims of cyclone

Following insurance regulator Irdai directive, LIC on Saturday announced concessions to mitigate the hardships of the claimants of policies and also of Pradhan Mantri Jeevan Jyoti Bima Yojana affected by the Cyclone Biparjoy. LIC in a statement said it is reaching out to the affected people to provide assistance although the loss of lives has been minimal. Nodal officers have been nominated at Divisional level to liaison with Chief/Secretary/Officer concerned of the State Government in this regard, it said. LIC has also created a portal link for the online submission of claims arising due to Biparjoy Cyclone. 'Bijarjoy' made landfall on the coast of Kutch on Thursday night with a windspeed of 115-125 km/hour causing loss to property and infrastructure in States impacted by the cyclone.

PNB, LIC, SBI and BoB looking to seek formal bids for stake sale in UTI AMC

These entities have already appointed merchant bankers to initiate the sale process in UTI AMC

LIC's shareholding in Bata India increases from 4.497% to 6.532%

The company raises stake in Tata Power from 5.917% to 7.935%

LIC Q4 net rises fivefold to Rs 13,428 cr, net premium income dips 8.3%

The value of new business (VNB) margin for 2022-23 was 16.2 per cent (net) as compared to 15.1 per cent (net) in the previous year

LIC Q4 Results: Consolidated PAT rises 5.5 folds YoY to Rs 13,190.8 cr

For FY23, the profit stood at Rs 36,397.40 crore as compared to Rs 4,043.12 crore for the previous financial year

Govt appoints Siddhartha Mohanty as chairman of LIC till June 2024

Appoints Mohanty chairman until June 29, 2024; he'll then take over as MD & CEO

LIC total premium rises 17% to Rs 2.32 trn from Rs 1.99 trn in FY23

Life Insurance Corporation (LIC) on Monday said its total premium rose 17 per cent to Rs 2.32 lakh crore during FY2022-23. The same stood at Rs 1.99 lakh crore in the year-ago period. In terms of premium collected, it continues to hold a market share of 62.58 per cent as on March 2023, LIC said in a statement. According to the Life Insurance Council data, private insurers have also collected a considerable amount of premium in March due to last-minute customer rush to benefit ahead of the April 1 withdrawal of tax exemptions for non-linked policies. LIC's premium growth for the fiscal 2023 is the second highest among its listed peers, with HDFC Life leading with 18.83 per cent, SBI Life at 16.22 per cent and ICICI Prudential Life Insurance Company at 12.55 per cent, it said. With regard to individual single premium, LIC witnessed a growth of 3.30 per cent and individual non-single premium grew 10 per cent, its group single premium grew 21.76 per cent to Rs 1,67,235 crore from Rs .

LIC sells 2% stake in NMDC between Dec and Mar, gets over Rs 700 crore

Life Insurance Corporation (LIC) on Wednesday said it has sold 2 per cent of its equity stake in state-owned NMDC, taking its total shareholding in the public sector unit to 11.69 per cent as of March 14. In a regulatory filing, LIC said its holding in NMDC has decreased from 13.69 per cent to 11.69 per cent during the period between December 29, 2022 and March 14, 2023, at an average price of Rs 119.37 a share. The sale of 2 per cent stake or a little over 5.88 crore shares in open market has fetched over Rs 700 crore to LIC. "Corporation's shareholding in NMDC Ltd has diluted from 40,14,72,157 to 34,25,97,574 equity shares decreasing its shareholding from 13.699 per cent to 11.690 per cent of the paid-up capital of the said company," LIC said. NMDC is engaged in exploration and production of iron ore.

LIC AAO Mains 2023: Admit card released, check download details here

LIC AAO Mains 2023 Phase II (main examination) is to be held on March 18, 2023. A sum of 7754 candidates have been shortlisted to give the exam

Change of guard at LIC: M Jagannath, Tablesh Pandey appointed MDs

M Jagannath and Tablesh Pandey named as managing directors of state-owned firm

LIC appoints Tablesh Pandey as managing director, effective April 1

Life Insurance Corporation (LIC) on Tuesday said it has elevated Tablesh Pandey, executive director of the company, as its managing director. His appointment is effective from April 1, 2023, according to a regulatory filing. Pandey will replace present managing director B C Patnaik, it said. LIC presently has four managing directors. Pursuant to a government notification, "Tablesh Pandey, Executive Director, LIC of India, has been appointed as Managing Director, LIC vice B C Patnaik with effect from the date of assumption of charge of the office on or after 1st April, 2023...," the company said.

Managing director Mohanty named LIC interim chairperson as Kumar era ends

Takes charge on March 14 for three months, faces challenges of LIC's falling market share and share price, apart from depleted value of its holdings in Adani group

Govt appoints Siddhartha Mohanty as interim chairman of LIC: Report

Government appointed Siddhartha Mohanty, the managing director and chief executive officer of LIC Housing Finance, as the MD of Life Insurance Corporation for three months, according to media report

LIC asks customers to link their PAN cards with policies by FY23 end

Has provided a link on its website through which policyholders can get this exercise done