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LIC Overtakes SBI in Market Capitalisation, Resumes Top PSU Position

LIC Overtakes SBI in Market Capitalisation, Resumes Top PSU Position

Wed, Jan 17, 2024

In a shift of positions, Life Insurance Corporation of India (LIC) has regained its status as the most valued listed public sector undertaking (PSU) by market capitalisation, surpassing State Bank of India (SBI). As of Jan 17, LIC reached a market cap of Rs 5.64 lakh crore, exceeding SBI's Rs 5.63 lakh crore.

Alert! Have LIC policy? Important premium payment message for you from Life Insurance Corporation

Alert! Have LIC policy? Important premium payment message for you from Life Insurance Corporation

Mon, Mar 23, 2020

It's an important message for you if you are a subscriber of any LIC policy, and its premium payment is pending

LIC Agent: Business opportunity for self-employed, others! Here is what you can do

LIC Agent: Business opportunity for self-employed, others! Here is what you can do

Fri, Mar 20, 2020

LIC Agent: The Life Insurance Corporation of India (LIC) has been allowing registered companies, banks, NBFCs, co-operative societies and partnership firms to become its agents since 1 April 2014

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LIC Jeevan Shanti plan: Invest Rs 10 lakh today, get Rs 17,000/month pension for life after 20 years! Check features

LIC Jeevan Shanti plan: Invest Rs 10 lakh today, get Rs 17,000/month pension for life after 20 years! Check features

Sat, Sep 15, 2018

LIC Jeevan Shanti: The Life Insurance Corporation of India recently launched a new pension plan - Jeevan Shanti.

LIC to buy out IDBI minority shareholders, take control

LIC to buy out IDBI minority shareholders, take control

Wed, Aug 29, 2018

Life Insurance Corp. of India (LIC) will next week decide on taking control of IDBI Bank by acquiring shares from minority shareholders, according to people familiar with the matter.

Cabinet approval for LIC to acquire controlling stake of IDBI Bank

Cabinet approval for LIC to acquire controlling stake of IDBI Bank

Wed, Aug 01, 2018

It has also approved acquisition of controlling stake by Life Insurance Corporation of India (LIC) as promoter in the bank through preferential allotment/open offer of equity, and relinquishment of management control by the government in the bank.

LIC board approves investment plan to buy 51% IDBI Bank stake

LIC board approves investment plan to buy 51% IDBI Bank stake

Mon, Jul 16, 2018

Earlier in June 2018, insurance regulator, Insurance Regulatory and Development Authority of India (IRDAI) approved LIC's proposal to increase its stake in troubled IDBI bank with certain terms and conditions. As per current regulations, an insurance company cannot own more than 15 per cent in any listed financial firm. However, it can own more stakes of a listed firm by seeking permission from IRDAI.

LIC board approves proposal to acquire 51 pct stake in IDBI Bank

LIC board approves proposal to acquire 51 pct stake in IDBI Bank

Mon, Jul 16, 2018

According to the Economic affairs secretary, using this route rather than LIC directly buying the government’s stake in IDBI Bank will ensure that the latter receives the capital. He reportedly said that an open offer may not be required as the public shareholding in IDBI Bank is merely 5 percent, adding “LIC will go through the process and make the open offer if necessary, but it is not very material.”

LIC unions oppose acquisition of IDBI Bank by insurer

LIC unions oppose acquisition of IDBI Bank by insurer

Tue, Jul 10, 2018

LIC employee unions have said that they are against the proposal for the insurer to acquire 51 per cent stake in IDBI Bank as it would hurt the interest of policyholders and their premium money.

IDBI Bank deal: Should LIC policyholders worry?

IDBI Bank deal: Should LIC policyholders worry?

Tue, Jul 10, 2018

While LIC is the white knight when it comes to rescuing government's plans, so far there is little data to suggest that LIC's investment decisions have back-fired. LIC has a stake in no less than 29 banks. In the past, it has bought stakes in Initial Public Offerings (IPO), follow-on public offers, and share-sales of many PSU firms. LIC had invested a good chunk of money in NTPC stake sale, the SBI Rs 15,000-crore Qualified Institutional Placement in 2014, and state-owned entity IPOs like that of Hindustan Aeronautics Ltd, General Insurance Corporation of India and New India Assurance.

IDBI-LIC stake deal:FinMin official says boards to take a call

IDBI-LIC stake deal:FinMin official says boards to take a call

Mon, Jun 25, 2018

The government today sounded evasive about the media reports that it was planning to ask LIC to take a controlling stake in the crippled IDBI Bank, saying the boards of the respective entities will take a call on the matter.

Rs 1,374 crore vanished in 3 days! LIC takes biggest hit in PNB’s free fall

Rs 1,374 crore vanished in 3 days! LIC takes biggest hit in PNB’s free fall

Fri, Feb 16, 2018

A steep 40 per cent drop in the Punjab National Bank's stock in the last three days weighed heavy on its largest shareholder, Life Insurance Corporation of India (LIC). LIC suffered a notional loss of as much as Rs 1,374 crore in the last three sessions since February 14.

Budget likely to back private funds, asset monetisation in Railways

Budget likely to back private funds, asset monetisation in Railways

Tue, Jan 23, 2018

Key Highlights:

Sebi may put 10% cross-shareholding cap in mutual funds

Sebi may put 10% cross-shareholding cap in mutual funds

Wed, Dec 27, 2017

State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda (BoB) and Life Insurance Corporation (LIC) are having their own mutual funds and at the same time they hold 18.24 per cent stake each in UTI AMC.

LIC's total assets cross Rs 27 lakh crore in 1HFY18

LIC's total assets cross Rs 27 lakh crore in 1HFY18

Tue, Dec 05, 2017

"The company will meet or exceed its FY18 target for premium and profit from equities," said VK Sharma, Chairman of LIC of India.

Jio's success helps Reliance overtake Airtel, grabs second spot in 2017 brand value list

Thu, Nov 02, 2017

Reliance Industries saw its brand value grow by 9% during the year to stand at Rs 38,212 crore in 2017.

LIC sells 2% stake in Mahindra & Mahindra

LIC sells 2% stake in Mahindra & Mahindra

Sun, Jul 16, 2017

The Mahindra & Mahindra on Saturday said the Life Insurance Corporation of India (LIC) has brought down its stake to less than 10 per cent in the company by divesting around two per cent of its holding in the firm.

HDFC Life-Max Life merger on hold again as IRDA denies permission

HDFC Life-Max Life merger on hold again as IRDA denies permission

Fri, Jun 09, 2017

Max Life Insurance and HDFC Life had decided to merge to create a Rs 50,000 crore insurance company. However, IRDAI is not really pleased with their proposal and has turned down the scheme.

LIC earns total investment income of Rs 1.80 lakh crore in FY17

LIC earns total investment income of Rs 1.80 lakh crore in FY17

Sun, May 21, 2017

LIC has earned a total investment income of Rs 1,80,117 crore in FY17 through investment in government bonds and state development loans, interest, corporate bond interest, dividend income and profits on sale of equity.

LIC Launched new insurance policy named "Jeevan Umang"

LIC Launched new insurance policy named "Jeevan Umang"

Wed, May 17, 2017

LIC Launched new insurance policy named "Jeevan Umang" . Watch the full segment for more details.

PSU insurers gain big from ITC; private players turn 'responsible'

PSU insurers gain big from ITC; private players turn 'responsible'

Sun, Apr 16, 2017

The petition has alleged that the substantial investments made by wholly-owned public sector undertakings in the tobacco industry is in contradiction to the anti-tobacco stance taken by the Government of India on a national as well as on an international level.

Income Tax Department to launch simplified e-filing of ITR form from April 1

Income Tax Department to launch simplified e-filing of ITR form from April 1

Wed, Mar 29, 2017

Income Tax Department will introduce simplified e-filing of Income Tax return form on April 1 this year which will do away with some columns while filing the the IT returns.

Life insurers see dip in new business premium in February

Life insurers see dip in new business premium in February

Mon, Mar 13, 2017

Public life insurer Life Insurance Corporation of India (LIC) reported a 12.2% decrease in its new business premium (first year premium) in February to Rs 6,847.59 crore as compared to Rs 7,806.41 crore

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