Lic Policy

Indian firms resuming operations in Bangladesh after protest disruptions

Here are some details of what Indian companies have said about their activities in Bangladesh, where many products made by India-based firms are household names

LIC launches a non-participating product 'Amritbaal' for children

The Minimum Sum Assured is Rs. 2,00,000, with no limit for the Maximum Basic Sum Assured

LICHFL aims to double affordable housing share in loan book in 2 years

LIC Housing Finance is aiming to more than double the share of affordable housing loans in its loan book to 20-25 per cent in the next two years, a top official said on Monday. The home finance arm of the insurance behemoth has witnessed a slower loan growth at 5 per cent in the December quarter due to internal restructuring and management changes, its chief executive and managing director T Adhikari, who assumed charge in August, told reporters. He said the company has been focused on the salaried and the high credit scores segment till now, which has led to a lower focus on affordable housing finance till now. "At present, affordable housing is 8-10 per cent of the portfolio, and we are targeting to take it to 20-25 per cent of the loanbook in two years," Adhikari said. He said the segment provides handsome growth opportunities, given the demand for such credit, and offers wider margins to financiers. There will be additional help coming by way of the government's priorities as

LIC launches new 'Jeevan Utsav' plan with lifetime guaranteed returns

The plan offers the choice to choose between two payout options - regular income and flexi-income benefits

Product mix, distribution strategies to help regain market share: LIC chief

Mohanty discusses a range of issues from product launches to the digital transformation journey that it has embarked upon

LIC pares 2% stake in NMDC for Rs 649 cr; brings down holding to 9.62%

Life Insurance Corporation (LIC) has reduced its stake in iron ore producer NMDC to 9.62 per cent by selling a little over 2 per cent stake for about Rs 649 crore. The state-owned insurer sold over 6.06 crore shares or 2.07 per cent stake in NMDC between March 14 and June 20 at an average price of Rs 107.59 a share via open market sale. At this price, over 6.06 crore shares would be valued at around Rs 649 crore. In a regulatory filing, LIC said its shareholding in NMDC has decreased from 11.69 per cent to 9.62 per cent.

Centre initiates talks with global investors over LIC business prospects

Move could be a precursor to further dilution of stake in the insurance major

Claim process norms for Odisha train accident victims eased: LIC chairman

National insurer LIC on Saturday announced many relaxations for the claim settlement process for the victims of the Balasore train tragedy. The accident involving two passenger trains and a stationary goods train has led to the loss of life of at least 288 people so far and left over 1,100 injured. In a late evening statement, LIC chairman Siddhartha Mohanty announced a slew of relaxations to the claim settlement process for the kin of the victims. "We are deeply saddened by the tragic train accident in Balasore, Odisha on Friday. LIC is committed to supporting those affected and will expedite claim settlements to provide financial relief", Mohanty was quoted as saying in the statement. The Corporation also announced many concessions to mitigate the hardships of the claimants of LIC policies and also of the Pradhan Mantri Jeevan Jyoti Bima Yojana. It said in lieu of registered death certificates, a list of casualties published by the Railways, police or any state or Central ...

LIC's shareholding in L&T Technology Services Ltd crossed 5% on April 21

Life Insurance Corporation (LIC) on Monday said its holding in L&T Technology Services Ltd (LTTS), a subsidiary of L&T, crossed past 5 per cent. The shares were acquired in ordinary course of transaction through open market, LIC said in a regulatory filing. The holding in company has crossed 5 per cent on April 21, 2023. The acquisition of shares were done during the period from October 20, 2021 to April 21, 2023 at an average cost of Rs 4,140.67 per shares, it said. LTTS is an engineering services provider, offers engineering, research and development and digitalisation solution to companies in the areas such as transportation, industrial products, telecom and medical devices.

Govt nudges LIC to tweak product strategy for better investor return

The government is nudging LIC to tweak its product strategy to maximise profitability in a bid to help the country's largest insurer realise its full growth potential and yield better returns for investors, an official said. Life Insurance Corporation (LIC) has been trading below the issue price of Rs 949 a share ever since it got listed on stock exchanges on May 17. It listed at Rs 872 apiece on NSE. On Tuesday, the scrip settled at Rs 595.50, down 0.72 per cent over the previous close. Foreign brokerages, however, remain bullish on LIC setting a higher target price over the next year as they feel that the insurer has good medium-term market potential, negligible high risk assets and robust core operating Return on Embedded Value (ROEV). Citi in a research report dated October 14 set a target price of Rs 1,000 for LIC scrip, saying LIC is 'positioned better than mature global players'. The finance ministry in its performance review has been sensitising the LIC management about th

Thrust on non-par products to yield desired results: LIC chief M R Kumar

We intend to sharpen the focus on bancassurance to steadily and considerably increase its volume, thereby its share in our business, said Kumar

Mere alcohol presence isn't intoxication

The National Commission decided a person can be said to be intoxicated only when blood alcohol level is 100 mg per 100 ml or more

Life Insurance Corp launches special campaign to revive lapsed policies

The campaign is launched to benefit those policy holders who were not able to pay premiums due to unavoidable circumstances and their policy lapsed

Life insurers' new business premiums grow 4.1% in June to Rs 31,254 cr

However, in Q1, the industry posted a 40% YoY growth in new biz premiums

LIC to hold first AGM on Sept 27 via video-conference, other AV means

LIC Board sets August 26 as record date for dividend payment, approves investment in proposed rights issue of LIC (Nepal) Ltd

Vedanta turns to LIC for Rs 5,000 cr as offshore borrowing gets costlier

Fund to be raised via 10-yr bonds; another Rs 2K cr to come via 18-month papers

LIC policyholders can apply for IPO at a discount: Here are answers to FAQs

How to apply for LIC IPO? How much is the discount for eligible policyholders? Are proposers of a policy eligible for reservation? Here are the answers to some FAQs on LIC IPO for policyholders

LIC launches new campaign to revive lapsed policies amid Covid-19

To encourage individuals to continue their risk cover amid the coronavirus pandemic, LIC on Thursday launched a campaign where lapsed policies can be revived. The insurance behemoth has launched a Special Revival Campaign starting from January 7 till March 6 for its customers to revive their lapsed individual policies subject to certain conditions. It has also authorised its 1,526 satellite offices to revive policies where special medical tests are not required. "Under this Special Revival Campaign, policies of specific eligible plans can be revived within five years from the date of the first unpaid premium subject to terms and conditions," LIC said in a statement. Certain concession in health requirements is also being offered subject to eligibility, it said, adding that most policies can be revived only on the basis of a declaration of good health and a COVID-19 questionnaire to be submitted by the proposer/ life assured. LIC had launched a similar campaign from August 10 till

Lock into current term insurance premiums, new rates unlikely before Apr 1

The sale of term plans gathered pace only over the past four-five years

Life insurers' new premium, led by LIC, jumps 94% to Rs 32,241 cr in June

The country's largest life insurer LIC, which is the only state-owned life insurance firm, witnessed more than two-fold rise in its new premium collection