Page 2 - Life Insurance Corporation of India News

Here is why SBI Life, HDFC Life, LIC shares rallied up to 4% on BSE today

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

LIC offloads 2.09% stake in Hindustan Copper for Rs 447 cr via open market

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

LIC's refusal to assign policies to ACESO will be contempt of court: Mehta

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

LIC drives new biz premium growth of life insurance companies in July

The growth in the premium was driven by LIC, while a high base effect impacted the improvement of private life insurers, analysts said

LIC to invest around Rs 1.30 trillion in stock market in FY25: MD & CEO

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

LIC's VNB margin falls short of medium-term target, say analysts

LIC's VNB margins improved by 20 basis points (bps) to 13.90 per cent in Q1 FY25 over the same period last year due to a change in the business mix of the insurer

LIC Q1 FY25 results: Net profit increases 9.6% to Rs 10,461 crore

LIC has booked a profit of Rs 15,500 crore in Q1FY25 from its equity investments

LIC Q1 results: PAT up 10% at Rs 10,461 cr, total income at Rs 2.1 trn

Life Insurance Corporation of India (LIC) on Thursday reported a 10 rise in its net profit to Rs 10,461 crore in the June 2024 quarter. The state-owned life insurance behemoth had a net profit of Rs 9,544 crore in the year-ago period. The total income increased to Rs 2,10,910 crore during the latest June quarter as against Rs 1,88,749 crore in the year-ago period, LIC said in a regulatory filing. During the quarter under review, the first-year premium rose to Rs 7,470 crore as against Rs 6,811 crore in the year-ago period, it said. The insurer earned Rs 56,429 crore from renewal premiums as against Rs 53,638 crore a year ago. Net income from investments during the quarter rose to Rs 96,183 crore as compared to Rs 90,309 crore in the April-June period of previous fiscal. Solvency margin of LIC increased to 1.99 per cent as compared to 1.89 per cent in the same quarter a year ago.

Yuva Term to Digi Term: LIC launches new products across categories

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

LIC, HDFC Life: Insurers stocks log up to 20% gain in July; what next?

Technical charts suggest that bias for insurance shares, barring Star Health, remain upbeat; hence, these stocks could see up to 12 per cent further upside from current levels.

LIC share at record high; m-cap hits Rs 7.56 trn post 39% rally in CY24

With today's gain, LIC's market capitalisation (m-cap) reached an all-time high of around Rs 7.56 trillion, making the life insurer the second largest listed public sector company

LIC stock is up 16% in July on the BSE; what's fueling the rise? Check here

Analysts remain optimistic about the medium-term outlook for the life insurance sector, and expect Retail APE to grow ~12-13 per cent during FY25E.

LIC regains market in new business premium; private peers cede ground

LIC's market share had peaked at 68.25 per cent in Q3FY23 and gradually declined over subsequent quarters

Life insurers extend rally on healthy growth in Q1; ICICI Pru at 52-wk high

As India marches forward to join the ranks of developed nations, the demand for long-term savings, protection and annuity products will only accelerate, believe life insurers.

LIC's residual stake value surges in top groups on stock market boom

Value of investments in top conglomerates at Rs 4.39 trn, up 37.5%

LIC Chairman Siddhartha Mohanty re-designated managing director & CEO

Arnab Kumar Chowdhury and Charulatha S Kar have taken the charge of executive director (ED) of RBI

Will the Indian stock market tank post the Hyundai IPO? What history suggests

Back home, out of the last seven big IPOs to hit the Dalal Street (D-Street) since 2007, the Sensex has lost ground five times post the stocks of these companies debuted at the exchanges

LIC rallies 6% on heavy volumes; stock inches towards record high

The stock hit an intra-day high of Rs 1,062.60 on Friday, and has bounced back 21 per cent from last week's low of Rs 880.70 touched on June 4.

LIC to enter health insurance market via private health insurer: Report

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