Life Insurance Corporation
Life Insurance Corporation News
Irdai panel may identify LIC as systematically important insurer
Insurance sector officials are not sure whether any other life insurer or a general insurance player other than GIC Re will qualify for the status. The committee headed by Pravin Kutumbe, Member-Finance & Investment, Irdai, has been asked to submit report in six months.
LIC's market share falls below 70 per cent
During 2017-18, life insurers issued 281.97 lakh new individual policies, out of which LIC issued 213.38 lakh policies or 75.7 per cent of the total new policies issued and the private life insurers issued 68.59 lakh policies (24.3 per cent).
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LIC profit rises by 32 per cent to Rs 25K crore
After distributing 95 per cent of surplus to policyholders, balance Rs 2,430.19 crore is government’s share.
RBI cancels meeting with IL&FS shareholders
IL&FS group is facing serious liquidity crisis and has defaulted on interest payment on various debt repayments since August 27. It has over Rs 91,000 crore in debt.
LIC board decides modalities for stake hike in IDBI Bank
Sources said LIC board has decided on appointment of a merchant banker and a legal advisor to carry out the acquisition process.
Life Insurance Corporation to buy up to 14.9 per cent stake in IDBI Bank
The first round of stake purchase is expected to bring over Rs 2,000 crore to the bank at the current market price.
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To bring in LIC as promoter: IDBI Bank seeks Centre’s approval
LIC which held 10.82 per cent stake in IDBI Bank had sold part of the stake in the last three months. Insurers stake in the bank is 8.29 per cent.
LIC gets board approval to buy majority stake in IDBI
The government owns 85.96 per cent stake in IDBI Bank, while LIC has 7.98 per cent shareholding in the lender, as per the June-end shareholding details available with the Bombay Stock Exchange.
Life insurance sector NPAs rise by 26 per cent to Rs 22,700 crore
A major chunk of the NPAs are accounted by Life Insurance Corporation (LIC), the largest insurer in the country.
LIC books Rs19,000 crore profit from market in FY17
LIC equity investments were around Rs 65,000 crore in 2015-16, but this came down to Rs 40,000 crore last year.
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