Life Insurance Corporation of India News

LIC shares dive 3% after premiums struggle in November; key metrics here

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

LIC rises 5% on filing appeal against GST demand order of Rs 66 lakh

Life Insurance Corporation of India ("the Corporation") has filed an appeal with GST Appellate Authority, Jammu Kashmir against the order demanding GST of Rs. 66,69,251/- for FY 2019-20

LIC, BSE, Angel One, Adani shares soar up to 9% on F&O entry; Nykaa dips 2%

It was a mixed debut for the new 45 entrants in the derivatives segment as 50 per cent of the shares traded with losses in intra-day deals on the NSE.

LIC in talks to acquire 50% stake in ManipalCigna Health Insurance

The discussions, in their early stages, aim to help LIC diversify beyond life insurance and tap into the growing health insurance demand

LIC faces Tamil Nadu backlash over Hindi website; cites technical glitch

The controversy erupted after Chief Minister M K Stalin criticised LIC, calling it a "propaganda tool for Hindi imposition"

Here's why LIC's shares rallied over 4% on Nov 12; check details here

India's largest life insurance company, Life Insurance Corporation (LIC) shares surged to an intraday high of Rs 194.20 per share, rallying 4.29 per cent on the BSE on Tuesday

Strong growth, margin metrics could support LIC's stock valuations

The management aims for a positive growth trajectory in the par segment and expects strong growth to continue in the non-par segment

LIC to finalise stake buy in health insurance firm in FY25: CEO Mohanty

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

LIC Q2 profit falls 3.8% on higher benefits paid, but margin expands

The net premium income rose 11.6% to 1.20 trillion rupees but the net benefits paid by the insurer to policyholders climbed 17% to 975.62 billion rupees during the quarter

Life Insurance Corporation receives GST demand notice of Rs 65 crore

Life Insurance Corporation of India (LIC) on Wednesday said tax authorities have slapped a demand notice of about Rs 65 crore on it for short payment of Goods and Services Tax (GST) for 2017-18. Besides, there is a penalty of Rs 6.5 crore and interest as applicable. The insurer has received communication/ demand order for Goods & Service Tax, Interest and penalty for Jharkhand on October 30, LIC said in a regulatory filing. There is no material impact on financials, operations or other activities of the corporation, it added.

LIC eyes entry into bond forward rate agreement market by end of FY25

The move comes as the interest rate cycle is set to soften, with insurers offering more guaranteed-return products

Market crash? Nifty can fall another 1,000 points from here, charts suggest

If the Nifty is unable to sustain above 24,500 levels, technically it can then slip to its 200-DMA placed at 23,365 levels, charts suggest.

LIC launches single-premium micro-term insurance for financial groups

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

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

First insurer to change commission after revision in surrender value norms

LIC boosts stake in Pune-based Bank of Maharashtra from 4.05% to 7.10%

LIC acquired 3.376 per cent equity of the bank during the QIP process at an average cost of Rs 57.36

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

LIC has appointed Boston Consulting Group as a consultant

LIC pares its holding in DCM Shriram Industries by over 2% to 4.66%

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.

LIC increases stake in railway sector 'miniratna' PSU IRCTC to 9.3%

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.

LIC ordered to pay Rs 50 lakh to Covid policy premium payer's family

A district-level consumer disputes commission in Kerala has ordered Life Insurance Corporation (LIC), India's largest insurer, to pay Rs 50 lakh in compensation to the family of a policy premium payer who succumbed to COVID-19, citing the insurer's technical lapse. The commission fined LIC Rs 50 lakh for violating its own guidelines, which require policy issuance within 15 days of receiving premium payment. In this case, LIC received over Rs 20 lakh as premium, but refunded it only after nine months. The Kottayam District Consumer Disputes Redressal Commission further observed that LIC failed to inform the applicant about the temporary suspension of life insurance policies for non-resident Indians during the COVID-19 pandemic, prior to his demise. This omission denied him the chance to secure alternative coverage, constituting a grave service lapse, it said. According to an official release here, Jemon, a London-based expatriate, had purchased a Jeevan Umang life insurance policy f

LIC receives demand notice of Rs 605.58 cr for short payment of GST

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.