Page 3 - Life Insurance Corporation

LIC sets Guinness World Record for most life insurance policies in 24 hours

Life Insurance Corporation of India on Saturday said it has earned a Guinness World Record title for most life insurance policies sold in 24 hours. This historic achievement, verified by Guinness World Records, recognises the extraordinary performance of the corporation's dedicated agency network on January 20, 2025, LIC said in a statement. On January 20, a total of 4,52,839 agents of LIC successfully completed and issued an astounding 5,88,107 life insurance policies across India, it noted. This monumental effort established a new global benchmark for agent productivity in the life insurance industry within 24 hours, it said. "It is a powerful validation of the relentless dedication, skill, and tireless work ethics of our agents. This achievement reflects our deep commitment towards our mission to provide vital financial protection to our customers and their families," the statement said. The record attempt was the culmination of an initiative by LIC MD and CEO Siddhartha Mohant

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

Slew of PSU stake sales soon; govt plans to divest 6.5% in LIC in tranches

"This year, we will follow a strategy of regular offers for sale (OFS) in small tranches. We are officially giving forward guidance for small investors to look out for it," says Dipam Secretary

Growth in number of life insurance policies sold falls steeply in FY25

The significant decline in the number of policies sold can be attributed to the implementation of new surrender value norms

Pahalgam terror attack: LIC to speed up death claim settlement process

All efforts will be taken to ensure that the claimants are reached out to and claims are settled expeditiously for the affected families

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

LIC to announce acquisition in health insurance firm by Mar 31: CEO Mohanty

LIC MD & CEO Siddhartha Mohanty said a decision on acquiring stake is likely by March 31, but he didn't disclose the health insurer's name

LIC names Shatmanyu Shrivastava as chief risk officer, effective March 19

He is a fellow member of the Institute of Chartered Accountants of India and also a fellow of the Insurance Institute of India (qualified in 2000)

Beware! LIC warns customers against fraudulent calls, fake claims

Country's largest insurance company urges customers to avoid divulging sensitive policy or banking details in response to unsolicited communications

LIC slips 3% as reports suggest govt to sell 2-3% stake; NBP falls 22% YoY

The government's stake sale aligns with its plan to meet the regulatory requirement of a 10 per cent public shareholding by 2027

Govt is planning to sell 2-3% LIC stake in FY26, may seek extension

The LIC stake sale may be split into two rounds for better value, with the government likely to seek an extension if market conditions turn unfavourable

Life insurers' new business premium growth drops 11.6% in February

LIC's weak performance drags overall premium growth of the segment

LIC, ICICI Pru, SBI MF: Top mutual funds who own IndusInd Bank stock

According to ACE Equity data, LIC and ICICI Prudential fund held more than 5% stake in IndusInd Bank; another 13 fund houses owned more than 1 per cent equity of the bank as of December quarter.

State bond yields harden on heavy supply and weak investor demand

14 states raised Rs 50,500 crore through bonds at the auction

LIC share slips 2%, hits 52-week low on GST demand order worth Rs 480 crore

The downfall in the LIC share price came after the company announced that it has received a communication/demand order for GST, interest and penalty for Maharashtra state worth about Rs 480 crore

LIC gets demand notice of Rs 479.88 crore for short payment of GST for FY21

Life Insurance Corporation of India (LIC) on Thursday said it has received a demand notice of Rs 479.88 crore for short payment of Goods and Services Tax (GST) for 2020-21. The company has received a communication/demand order for interest and penalty for Maharashtra on February 27 from Deputy Commissioner of State Tax, Mumbai, LIC said in a regulatory filing. The demand notice pertains to wrong availment and short reversal of Input Tax Credit (ITC), Interest on late payments, short payment of tax liability, it said. The order is appealable before the Joint Commissioner of State tax (Appeals), Mumbai, it said. The financial impact of the demand is to the extent of the GST (Rs 242.23 crore), Interest (Rs 213.43 crore) and Penalty (Rs 24.22 crore), it said, adding, there is no material impact on financials, operations or other activities of the corporation.

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

Stocks to watch, Feb 25: M&M, Ireda, Nestle India, Airtel, Biocon

Stocks to watch today: Mahindra and Mahindra has increased its market share to 43.8 pr cent in the domestic tractor market despite a challenging year

LIC gets GST demand notice of Rs 57.2 crore for excess ITC availed

Life Insurance Corporation of India (LIC) on Monday said tax authorities have slapped a demand notice of about Rs 57.2 crore on it for excess Input Tax Credit (ITC) availed for the financial year 2020-21. The company has received a communication/demand order on Monday from Assistant Commissioner, Delhi regarding excess ITC availed, LIC said in a regulatory filing. The financial impact of the demand is to the extent of the GST (Rs 31,04,35,201), Interest (Rs 23,13,21,002) and Penalty (Rs 3,10,43,519), it said. There is no material impact on financials, operations or other activities of the corporation, it added.

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