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Govt seeks Rs 8-10 lakh crore valuation for LIC

Govt seeks Rs 8-10 lakh crore valuation for LIC

🕔14:38, 16.Sep 2021

New Delhi, Sep 16  India is seeking a valuation of between Rs 8 trillion ($109 billion) and Rs 10 trillion for the state-backed Life Insurance Corporation in what’s slated to be the nation’s biggest initial public offering, Bloomberg reported. The

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Altering surplus sharing ratio would make LIC a new company

Altering surplus sharing ratio would make LIC a new company

🕔16:07, 2.Aug 2021

Chennai, Aug 2  The 64-year-old Life Insurance Corporation of India (LIC) can become a new company for a new set of policyholders if its surplus sharing ratio is changed, said industry experts. They also said the change in with-profit policy

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IMF board approves policy reforms to support low-income nations

IMF board approves policy reforms to support low-income nations

🕔13:11, 23.Jul 2021

Washington, July 23  The executive board of the International Monetary Fund (IMF) has approved a set of policy reforms to the concessional lending facilities to better support the recovery of low-income countries (LICs) from the Covid-19 pandemic. “These reforms are

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LIC Chairman Kumar’s term extended

LIC Chairman Kumar’s term extended

🕔16:54, 9.Jun 2021

Chennai, June 9  The Central Government on Wednesday extended Life Insurance Corporation of India (LIC) Chairman M.R. Kumar’s term till March 13, 2022. He was set to retire on June 30, 2021. According to the order, Kumar’s term is extended

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LIC relaxes claim settlement requirements from Monday

LIC relaxes claim settlement requirements from Monday

🕔20:46, 10.May 2021

New Delhi, May 10  Keeping in view the safety of its customers, the Life Insurance Corporation (LIC) has decided to offer relaxations in various claim settlement requirements to make the process easier and hassle-free. The relaxations will kick in from

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LIC relaxes claim settlement requirements amid Covid crisis

LIC relaxes claim settlement requirements amid Covid crisis

🕔06:59, 8.May 2021

Mumbai, May 8  Life Insurance Corporation of India (LIC) has given several relaxations in various claim settlement requirements to make the processes easier and hassle-free, keeping in view the safety of its customers amid the pandemic. The state-run insurer said

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LIC earns Rs 1.84 trillion new premium in FY21

LIC earns Rs 1.84 trillion new premium in FY21

🕔10:36, 21.Apr 2021

Chennai, April 21  One of Asia’s life insurance giants, Life Insurance Corporation of India (LIC) closed last fiscal with a new business premium or first year premium of Rs 1.84 trillion, the company said. The insurer also paid Rs.1.34 trillion

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LIC employees to get over 25% wage hike

LIC employees to get over 25% wage hike

🕔10:15, 16.Apr 2021

Chennai, April 16  The new fiscal year 2020-21 has started for about 1.14 lakh employees of Life Insurance Corporation of India (LIC) on a happy note with over 25 per cent hike in their pay packets, said a top union

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Centre proposes to raise LIC’s authorised capital to Rs 25K cr

Centre proposes to raise LIC’s authorised capital to Rs 25K cr

🕔07:15, 8.Mar 2021

New Delhi, March 8  With a view of listing the state-run insurance major Life Insurance Corporation of India (LIC), the government has proposed to raise the authorised capital of LIC to Rs 25,000 crore. As per the amendments proposed under

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IRDAI sets up group to study index-linked life policies

IRDAI sets up group to study index-linked life policies

🕔08:14, 2.Sep 2020

Chennai, Sep 2  With life insurers seeking permission to launch index-linked policies, the Insurance Regulatory and Development Authority of India (IRDAI) has set up a working group to look at the issue and give its recommendations in two months. The

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IDBI Bank to sell 27% stake in IDBI Federal Life Insurance

IDBI Bank to sell 27% stake in IDBI Federal Life Insurance

🕔07:40, 7.Aug 2020

New Delhi, Aug 7  IDBI Bank on Thursday said that it has entered into a share purchase agreement to sell up to 27 per cent stake in its joint venture insurance arm, IDBI Federal Life Insurance Company Ltd (IFLI), to

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Inter-ministerial panel on LIC listing shortly

Inter-ministerial panel on LIC listing shortly

🕔06:42, 21.Feb 2020

New Delhi, Feb 21  The government will set up an inter-ministerial group (IMG) with Secretaries from the Corporate Affairs, and Law Ministries as well as the Finance Ministry’s three Secretaries to clear the initial issues on LIC listing shortly. Secretaries

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PSUs may pick stake in merged PFC-REC entity to keep 51% govt holding

PSUs may pick stake in merged PFC-REC entity to keep 51% govt holding

🕔07:38, 20.Feb 2020

New Delhi, Feb 20  State-run financial institutions or public sector enterprises such as LIC, NTPC, NHPC may pick up a stake in the Power Finance Corporation (PFC) to prevent government shareholding in the power sector financier from falling below the

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6-7% LIC stake dilution enough to mop up Rs 90,000 cr : CEA

6-7% LIC stake dilution enough to mop up Rs 90,000 cr : CEA

🕔12:50, 17.Feb 2020

New Delhi, Feb 16 (IANS) The government’s Rs 2.1 lakh crore sell-off target is achievable with half of this amount expected to be met through the spill-over deals of Air India, BPCL and Concor and the remaining Rs 90,000 crore through

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Proposed new tax rates may impact LIC valuations : Experts

Proposed new tax rates may impact LIC valuations : Experts

🕔20:03, 1.Feb 2020

Chennai, Feb 1 Union Finance Minister Nirmala Sitharaman, announcing the disinvestment of Life Insurance Corporation of India (LIC), has scored a self goal against that proposal with her new tax slabs that would impact sales of insurance policies and valuation

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LIC pays Rs 2,610.7 cr as FY19 dividend to government

LIC pays Rs 2,610.7 cr as FY19 dividend to government

🕔06:58, 28.Dec 2019

New Delhi, Dec 28  The Life Insurance Corporation of India (LIC) on Friday paid a dividend of Rs 2,610.74 crore for the financial year 2018-19 to the government In a tweet, the Finance Ministry said: “Union Finance Minister @nsitharaman receives

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SC agrees to hear case against LIC on July 15

SC agrees to hear case against LIC on July 15

🕔08:48, 5.Jul 2019

New Delhi, July 5  A non-profit organization engaged in financial literacy advocacy has moved the Supreme Court alleging mass cheating, especially of senior citizens, by Life Insurance Corporation of India (LIC) through Jeevan Saral policy, wherein approximately 5 crore policy

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LIC may propose 3-5 year time for IDBI Bank stake cut

LIC may propose 3-5 year time for IDBI Bank stake cut

🕔07:09, 18.Mar 2019

New Delhi, March 18  The country’s largest life insurer Life Insurance Corporation (LIC) may propose a timeline of 3-5 years for cutting down its stake in the recently acquired IDBI Bank to comply with insurance regulator Irdai’s norm of 15

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IDBI Bank appoints LIC as agent, forms joint group to identify synergies

IDBI Bank appoints LIC as agent, forms joint group to identify synergies

🕔12:03, 11.Mar 2019

Mumbai, March 11  The IDBI Bank on Sunday said it has started aligning its businesses with that of its new owner LIC, appointing the life insurer as a corporate agent under bancassurance besides setting up a joint task force to

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LIC may infuse up to Rs 12,000 crore in IDBI Bank to help it meet provisioning for NPAs in Q4

LIC may infuse up to Rs 12,000 crore in IDBI Bank to help it meet provisioning for NPAs in Q4

🕔06:24, 16.Feb 2019

New Delhi, Feb 16  IDBI Bank has sounded out its new owner LIC seeking another tranche of up to Rs 12,000 crore to meet its huge provisioning requirements amid mounting losses. The fresh support is required to cover for non-performing

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