Page 24 - Life Insurance Corporation

Irdai says LIC, GIC Re, New India are too big to fail, need more control

The three are seen as key players to deal with systemic risks and moral hazard issues, have been told to raise corporate governance levels and promote a sound risk management culture

LIC, GIC, New India Assurance systemically important insurers: IRDAI

The three insurers have also been asked to raise the level of corporate governance, identify all relevant risks and promote a sound risk management culture, IRDAI said in a statement

Major defaults in our corp bond holdings due to Covid unlikely: LIC chief

In a Q&A, chairman M R Kumar says the insurance behemoth isn't considering scaling down targets and hopes to reach its budgeted figures at the end of FY21

LIC's FY21 business will be higher than last year: Chairman Kumar

The life insurer hopes to sell 22 million policies and collect Rs 51,300 cr in first year premium income from individual business this financial year

LIC IPO unlikely this fiscal year due to delay in valuation process

A lot of work to be done before insurer is ready for market debut, admit LIC and govt officials

LIC IPO may offer 10% discount to employees under special quota

Govt to pitch for amendments in the LIC Act in the Monsoon session starting September 14

LIC Housing: Equity infusion would be preferred over debt capital

At 12 per cent tier-1 capital, the recent decision to raise Rs 50,500 crore of debt funds unlikely to address asset quality issues

LIC HFC Q1FY21 PBT up 21% to Rs 1,018 cr, NIM declines by 9 bps

Net profit for reporting quarter up 34% to Rs 817.48 cr; firm's stock closed flat at Rs 276.7 a share on BSE

LIC's portfolio up 34% in FY21 at Rs 5.79 trn; RIL, Infy top contributors

The study is based on 351 companies' data from Capitaline Plus, where LIC held over 1 percentage point stake in the June quarter. These companies accounted 72% of total m-cap of BSE-listed companies

How bailout for three state-run insurers highlights Irdai's incompetence

The latest bailout also raises concerns about the need for a through relook at the quality of the managerial talent in these companies

Can't reject claims due to discrepancies in proposal

The Commission didn't agree with LIC's argument that Singh had misrepresented facts and blamed the insurer for not doing proper scrutiny of the proposal forms

LIC sees rebound in business after months of slide due to Covid-19 crisis

With the spread of coronavirus and the subsequent lockdown imposed by the government, LIC saw its new business premium (NBP) fall 31 per cent year-on-year (YoY) in March

LIC Housing Finance likely to recover Rs 3,000 crore worth NPAs

The target is to get back about 50 per cent of gross non-performing assets (GNPAs), Managing Director and Chief Executive Siddhartha Mohanty said.

Three Life Insurance Corp unions urge govt not to divest stake in insurer

According to them, LIC today is managing assets in excess of Rs 32 trillion

LIC Housing Finance posts 16% fall in pre-tax profit at Rs 826.72 crore

Its net profit fell sharply, by 40 per cent, to Rs 421.43 crore from Rs 693.58 crore in Q4FY19.

Finance Ministry invites bids from transaction advisors for LIC IPO

The advisors can submit their bids beginning Friday, till July 13, 2020. The bids would be opened by DIPAM on July 14

New business premium of life insurance companies declines 25% in May

For the most part of April and May, the country was in a lockdown and businesses found it difficult to conduct their operations, despite some relaxations from the government

RBI stops 7.75% bond: Here're some fixed-income options for senior citizens

PMVVY, SCSS, PPF and Bharat Bond are instruments senior citizens can turn to

Finance Ministry, LIC start contact tracing to assess Covid-19 aid

At 2.7%, life insurance penetration in India is lower than Western & Asian peers

Insurance firms looks to bridge online trust deficit amid Covid--19 crisis

With customers caught in a swirl of panic and fear, life insurance companies are looking at confidence building measures for a post Covid-19 world