Page 2 - Life Insurance Corporation

New biz premium of life insurers grows 14% to Rs 31,823 cr in July

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

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

Mcap of 8 of top-10 valued firms erodes by Rs 1.66 trn; Reliance, LIC lag

The combined market valuation of eight of the top-10 most valued firms eroded by Rs 1,66,954.07 crore last week, with Reliance Industries and Life Insurance Corporation of India emerging as the biggest laggards, in line with weak trend in equities. Last week, the BSE benchmark slumped 1,276.04 points or 1.57 per cent. The market capitalisation (mcap) of Reliance Industries tanked Rs 33,930.56 crore to Rs 19,94,765.01 crore, the most among the top-10 firms. The valuation of Life Insurance Corporation of India (LIC) slumped Rs 30,676.24 crore to Rs 7,17,001.74 crore. State Bank of India lost Rs 21,151.33 crore from its valuation which stood at Rs 7,35,566.52 crore. The market valuation of Infosys dived Rs 20,973.19 crore to Rs 7,35,277.28 crore and that of Tata Consultancy Services (TCS) tumbled Rs 19,157.77 crore to Rs 15,30,469.11 crore. Bharti Airtel's mcap got wiped out by Rs 16,993.56 crore to Rs 8,33,396.32 crore and ICICI Bank suffered an erosion of Rs 16,975.55 crore to Rs

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 share price surges 3% after Q1FY25 results; check details here

Shares of Life Insurance Corporation of India surged up to 3 per cent at Rs 1,159.60 per share on the BSE in Friday's early morning deals

Govt planning to reduce its stake in LIC by nearly 5% this fiscal: Report

Currently holding a 96.5 per cent stake in LIC, the government is considering options such as a follow-on public offer (FPO) and qualified institutions placement (QIP) to reduce its stake

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.

HDFC Life, SBI Life stocks rally up to 3% on Gadkari's GST withdrawal plea

Life insurance stocks: While analysts laud the proposal to withdraw GST on life, medical insurance premiums, they suggest investors wait for the Finance Ministry's before taking any investment call

Mcap of 6 of 10 valued firms jumps Rs 1.85 trn; LIC, Infosys top winners

The combined market valuation of six of the top 10 valued firms jumped Rs 1,85,186.51 crore last week, with Life Insurance Corporation of India (LIC) and Infosys emerging as the biggest gainers. Last week, the BSE benchmark climbed 728.07 points or 0.90 per cent. The valuation of LIC surged Rs 44,907.49 crore to Rs 7,46,602.73 crore. Infosys added Rs 35,665.92 crore to its market valuation at Rs 7,80,062.35 crore. ITC's valuation soared by Rs 35,363.32 crore to Rs 6,28,042.62 crore. The market capitalisation (mcap) of Tata Consultancy Services (TCS) jumped Rs 30,826.1 crore to Rs 15,87,598.71 crore and that of Bharti Airtel climbed Rs 30,282.99 crore to Rs 8,62,211.38 crore. HDFC Bank's valuation rallied Rs 8,140.69 crore to Rs 12,30,842.03 crore. However, the mcap of Reliance Industries tumbled by Rs 62,008.68 crore to Rs 20,41,821.06 crore. The valuation of ICICI Bank declined by Rs 28,511.07 crore to Rs 8,50,020.53 crore. State Bank of India's mcap declined by Rs 23,427.1 cro

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

Stocks to Watch, June 18: Vodafone Idea, IndiGo, LIC, Pidilite Industries

Asia-Pacific markets were buzzing ahead of the Reserve Bank of Australia's rate decision

Mcap of 5 of top-10 valued firms jumps Rs 85,582 cr; LIC biggest gainer

Five of the top-10 most valued firms together added Rs 85,582.21 crore in market valuation last week, with Life Insurance Corporation of India (LIC) emerging as the biggest gainer, in-line with positive trend in equities. Last week, BSE benchmark Sensex climbed 299.41 points or 0.39 per cent. The 30-share barometer hit its all-time high of 77,145.46 on June 13. While Reliance Industries, HDFC Bank, Bharti Airtel, State Bank of India and LIC were the gainers, Tata Consultancy Services (TCS), ICICI Bank, Infosys, Hindustan Unilever and ITC faced erosion from their market valuation. The five firms together lost Rs 84,704.81 crore from market valuation. The valuation of LIC jumped Rs 46,425.48 crore to Rs 6,74,877.25 crore, the most among the top-10 firms. The market capitalisation (mcap) of HDFC Bank rallied Rs 18,639.61 crore to Rs 12,14,965.13 crore. Reliance Industries added Rs 10,216.41 crore, taking its valuation to Rs 19,98,957.88 crore. The mcap of State Bank of India climbed

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.

SBI Life, HDFC Life: Analysts pick top insurance stocks after May biz data

Insurance stocks to buy: In the immediate future, analysts said the revised surrender charges regulations, as and when they are announced, will be vital for growth trajectory in FY25