life insurance corporation

life insurance corporation (LIC) clarified no plans for health insurance, but anticipation for composite licenses to enhance insurance penetration in India. Irdai regulations do not currently support composite licensing. Proposed amendments to the Insurance Act of 1938 are being considered. A parliamentary panel led by BJP leader Jayant Sinha recommended composite licensing for insurers.

LIC's AUM is now almost twice the size of Pakistan's GDP, which stands at approximately $338.24 billion, according to IMF data. Even as India is poised to become an economic superpower amidst the looming global financial challenges, Pakistan, burdened by debt, has been grappling with financial difficulties

LIC explores health insurance entry, considers composite licenses, and aims to boost market coverage, reporting improved FY24 results and dividend recommendations.

LIC: According to Sebi regulations, all listed companies must maintain a 25% public float. However, newly-listed companies are given a three-year window to meet this requirement.

LIC shares rose 6% in FY25, surpassing IPO price. A 17% wage hike for 1.10 lakh employees raised shareholder concerns. Front-running case and market conditions may affect short-term performance, but long-term outlook remains positive.

Four of the top-10 most valued firms together added Rs 2.18 lakh crore in market valuation last week, with life insurance corporation and State Bank of India emerging as the biggest gainers. From the top-10 pack, Reliance Industries, Tata Consultancy Services (TCS), life insurance corporation of India (LIC) and SBI were the gainers. They collectively added Rs 2,18,598.29 crore in market capitalisation.

life insurance corporation of India (LIC) has surpassed State Bank of India (SBI) in terms of market capitalization, becoming the most valued PSU stock in India. LIC's stock surge was driven by a 9% rally in the past week and an exemption from complying with the minimum public shareholding norms until 2032.

LIC (life insurance corporation of India), a state-owned company and one of the largest investors in the Adani Group, has sold shares in Adani Energy Solutions, Adani Enterprises, and Adani Ports, taking advantage of the recent rise in stock prices.

The life insurance corporation of India has informed stock exchanges that it has received a refund order for Rs 25,464 crore, but faces three income tax demand orders which could result in an outgo of Rs 2,765 crore, which it will contest with the IT commissioner. The refund will come as a boost for policyholders and shareholders. The refund order comprises principal amount and interest. While the principal tax amount is currently reckoned as a receivable in the corporation's books and will not impact the balance sheet or the current year's financials.

life insurance corporation of India (LIC), the nation's largest insurer, experienced a significant jump in shares due to expectations of double-digit growth in new business premiums. LIC's chairman, Siddhartha Mohanty, expressed optimism about higher growth based on recent trends in individual retail business. LIC's shares surged by 10.4%, the highest in eight months, and trade volume also increased. This positive outlook reflects the potential for insurers as the Indian economy outpaces other major peers.

The finance ministry has announced measures that will benefit LIC employees and agents. They include an increase in the gratuity limit from Rs 3 lakh to Rs 5 lakh for agents, eligibility for renewal commission for reappointed agents, an expanded term insurance cover, and a uniform rate of 30% for family pension for retired employees' spouses.

According to a top official, the Small Industries Development Bank of India (Sidbi), which refinances SME loans, aims to conduct a Rs 10,000-crore rights issue next fiscal to enhance its equity capital as it hopes to grow assets to Rs 5 lakh crore by March 2024 from around Rs 4 lakh crore in March 2023. The national government owns 20.8% of Sidbi, while State Bank of India owns 15.65% and life insurance corporation owns 13.33%. Other public financial institutions and banks own the remainder of the equity. The proposed rights offering will be supported by the shareholders.