Life Insurance Corporation Of India LIC

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

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

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

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

Employee compensation and welfare expenses dropped 30% on year to Rs 6,691 crore

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, ...

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

First insurer to change commission after revision in surrender value norms

LIC has appointed Boston Consulting Group as a consultant

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

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

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

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

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

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

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

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

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

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

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