Life Insurance Corporation

LIC's Bima Sakhi Yojana to enrol 100,000 women in 12 months

LIC's premiums for November fell 27 per cent on a year-on-year basis (Y-o-Y), though the company saw a 16 per cent increase in premiums for the first eight months of FY25

The Supreme Court has also condones the delay of 365 days in filing the present case

The combined market valuation of nine of the top-10 most valued firms surged Rs 2,29,589.86 crore last week, with Life Insurance Corporation of India emerging as the biggest gainer, in tandem with a rally in benchmark indices. Last week, BSE benchmark Sensex jumped 685.68 points or 0.86 per cent and NSE Nifty climbed 223.85 points or 0.93 per cent. The valuation of Life Insurance Corporation of India (LIC) jumped Rs 60,656.72 crore to Rs 6,23,202.02 crore, the most among the top-10 firms. HDFC Bank added Rs 39,513.97 crore, taking its valuation to Rs 13,73,932.11 crore. The market valuation of Reliance Industries surged Rs 35,860.79 crore to Rs 17,48,991.54 crore and that of Bharti Airtel soared Rs 32,657.06 crore to Rs 9,26,725.90 crore. State Bank of India's market capitalisation (mcap) climbed Rs 20,482 crore to Rs 7,48,775.62 crore and that of ICICI Bank rallied Rs 15,858.02 crore to Rs 9,17,724.24 crore. Hindustan Unilever's valuation went up by Rs 11,947.67 crore to Rs ...

Life Insurance Corporation (LIC) on Tuesday said it has sold more than 2.02 per cent stake in Tata Power Company for about Rs 2,888 crore and reduced its holding in the company to 3.88 per cent. In a regulatory filing, LIC said the insurance behemoth has decreased its shareholding in Tata Power Company Ltd from 18,87,06,367 to 12,39,91,097, that is, 5.906 per cent to 3.881 per cent of the paid-up capital of the company. The shares were sold between June 20, 2024, and November 11, 2024, at an average price of Rs 446.402 apiece through an open market sale. At this price, LIC sold over 6.47 crore shares, or a 2.025 per cent stake, for Rs 2,888 crore. Shares of LIC closed at Rs 921.45 apiece, up 0.32 per cent over the previous close on BSE.

Life Insurance Corporation MD and CEO Siddhartha Mohanty on Friday said the state-owned company will take a call on buying a stake in a standalone health insurer in the current financial year. "The ground work is going on...search for suitable health insurance company is going on...we will finalise stake within this financial year," he said during post result media conference. Asked about the quantum of stake LIC will have in health insurance company, he said it would depend on various factors, including valuation. Once all the groundworks are done, he said, LIC would approach the board for its approval to foray into the health insurance segment. In February 2024, a parliamentary committee recommended the implementation of composite insurance licenses to reduce expenses and regulatory burdens for insurance providers. At present, life insurance companies are restricted to offering extended health insurance benefits. Enabling life insurance companies to furnish hospitalisation and

The revision is effective October 1, 2024, 'LIC New Endowment Plan-914' is a participating endowment plan that offers the dual benefit of protection-cum-savings plan

LIC's new plan offers simple and affordable life insurance for financial institutions to cover their members

Endowment is an insurance policy that provides life cover and maturity benefit

First insurer to change commission after revision in surrender value norms

State-owned insurer doesn't want operational control but wants to have a say in the management

Life Insurance Corporation (LIC) on Tuesday said it has pared its stake in DCM Shriram Industries by more than 2 per cent to 4.66 per cent over a period of about three years. In a regulatory filing, LIC said there is a net decrease of 2.016 per cent in its holding in DCM Shriram during the period October 8, 2021, and September 13, 2024. The shares were sold at an average price of Rs 110.072. "...the Life Insurance Corporation of India has decreased its shareholding in equity shares of DCM Shriram Industries Ltd from 58,06,760 to 40,52,635 i.e., 6.675 per cent to 4.659 per cent of the paid-up capital of the said company," LIC said. DCM Shriram Industries is primarily engaged in production and sale of sugar, alcohol and industrial fibres. Shares of DCM Shriram Industries settled 1.77 per cent lower at Rs 194 apiece on the BSE.

Life Insurance Corp (LIC) on Thursday said it has hiked its stake in Indian Railway Catering and Tourism Corporation (IRCTC) to about 9.3 per cent. In a regulatory filing, LIC said its holding in railway sector 'miniratna' PSU has increased 2.02 per cent in the period December 16, 2022, to September 11, 2024, via open market purchases. "Life Insurance Corporation of India has increased its shareholding in equity shares of Indian Railway Catering and Tourism Corporation Ltd from 5,82,22,948 to 7,43,79,924 i.e., 7.278% to 9.298% of the paid-up capital of the said company (IRCTC)," LIC said. Shares of LIC closed at Rs 1031.45, up 1.81 per cent over the previous close on the BSE.

Life Insurance Corporation of India (LIC) on Thursday said tax authorities have slapped a demand notice of about Rs 605.58 crore on it for short payment of Goods and Services Tax (GST) for financial year 2019-20. The corporation has received a communication/demand order for interest and penalty for Maharashtra, LIC said in a regulatory filing. The order is appealable before the Joint Commissioner of State tax (Appeals), Mumbai, it said. The matter pertains to wrong availment and short reversal of Input Tax Credit (ITC) and interest on late payments, it said. LIC received a GST notice of Rs 294 crore with interest of Rs 281 crore and a penalty of Rs 29 crore from the Deputy Commissioner of State Tax, Mumbai. There is no material impact on financials, operations or other activities of the insurance behemoth, it added.

Insurance stocks in focus: LIC has approached Irdai to increase the interest rate assumption and plan-based G-Sec assumption for the calculation of surrender value, reports say

Life Insurance Corporation of India (LIC) on Monday said it has sold a 2.09 per cent stake in state-owned Hindustan Copper for Rs 447 crore through an open market transaction. The insurance behemoth has sold a total of 2,01,62,682 shares, or 2.085 per cent stake, in Hindustan Copper, according to a regulatory filing. The shares of Hindustan Copper were sold at an average cost of Rs 221.64 apiece, taking the transaction value to Rs 446.8 crore. With this, LIC's stake in the state-owned company has reduced to 6.09 per cent from 8.17 per cent. "Holding decreased from 8.171 per cent to 6.086 per cent, a decrease of 2.085 per cent during the period from September 27, 2023, to August 16, 2024, at an average cost of Rs 221.64," the filing said. Hindustan Copper Ltd (HCL) is under the administrative control of the Ministry of Mines. It is the only company in the country engaged in mining of copper ore and owns all the operating mining lease of Copper ore and also the only integrated produ

In terms of the number of agents, Life Insurance Corporation (LIC) has the lowest number of agents at 273 in the Andaman & Nicobar Islands

Established in 2018, ACESO monetises the assets of LIC policyholders to ensure maximum financial benefits, especially in cases where the policies are surrendered or lapsed

Life insurers recorded a 14 per cent rise in underwriting new business with a premium collection of Rs 31,823 crore in July. The country's biggest insurer Life Insurance Corporation of India (LIC) saw a 19.78 per cent jump in its new business premium to Rs 18,431 crore from Rs 15,387 crore in July 2023. Data from the Life Insurance Council shows that its new business premium collection for the first four months of FY25 rose 26 per cent to Rs 75,872 crore from Rs 60,224 crore in the same period last year. New business premiums expanded from Rs 27,867 crore in July 2023 to Rs 31,823 crore in July 2024, with year-to-date collections growing even more from Rs 1,00,872 crore to Rs 1,21,549 crore this year, according to the council data. Driven by strong demand for enhanced insurance protection from individual consumers, new policy issuances too increased by 2.73 per cent on a year-on-year basis in July 2024, resulting in the addition of 23,88,720 new policies vis-a-vis 23,25,235 policie

Life Insurance Corporation of India (LIC) MD and CEO Siddhartha Mohanty has said that the corporation is looking to make fresh investments of around Rs 1.30 lakh crore in equities during the current financial year. During April-June FY25, the insurance behemoth made an investment of about Rs 38,000 crore in shares as against Rs 23,300 crore in the same period a year ago. LIC earned a profit of Rs 15,500 crore from its investments in equity markets during the first quarter. The profit from its investment was higher by 13.5 per cent quarter-on-quarter. "We are surely looking at the markets and price movements...we are looking to invest a good amount at least whatever we had invested in last financial year...LIC made an investment of around Rs 1.32 lakh crore in FY'24," he said. Market value of LIC's investment in stocks of various companies stood at around Rs 15 lakh crore at the end of June, he said. LIC has exposure in 282 companies through investment in their shares as of June 30