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Life Insurance Corporation of India (LIC)

LIC gets RBI nod to increase stake in HDFC Bank to 9.99%; lender's shares in green

LIC gets RBI nod to increase stake in HDFC Bank to 9.99%; lender's shares in green

Mon, Jan 29, 2024

At around 9:23 a.m., shares of HDFC Bank traded 1.40 per cent or Rs 20.10 higher at Rs 1455.4 apiece. Meanwhile, at around the same time, LIC shares flat at Rs 903.3 apiece.

Govt grants one-time exemption to LIC to achieve 25% Minimum Public Shareholding in 10 years

Govt grants one-time exemption to LIC to achieve 25% Minimum Public Shareholding in 10 years

Thu, Dec 21, 2023

In a stock exchange filing, LIC said the Department of Economic Affairs has decided to grant a "one-time exemption to LIC to achieve 25 per cent MPS within 10 years from the date of listing i.E., till May 2032".

LIC Policy Jeevan Utsav: This LIC plan offers guaranteed returns, assured income, life insurance, and other benefits

LIC Policy Jeevan Utsav: This LIC plan offers guaranteed returns, assured income, life insurance, and other benefits

Fri, Dec 15, 2023

LIC's Jeevan Utsav Plan promises assured returns and guaranteed income. The minimum basic sum assured is Rs 5 lakh. The minimum age at the time of commencement of the policy should be 18 and the maximum age at the time of completion of the policy should be 75 years.

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LIC keen to keep part of its stake in IDBI Bank to reap benefit of bancassurance

LIC keen to keep part of its stake in IDBI Bank to reap benefit of bancassurance

Mon, Nov 27, 2023

The government, which owns over 45 per cent stake in IDBI Bank, and life insurance behemoth LIC, with a 49.24 per cent shareholding in the lender, have jointly decided to sell a 60.7 per cent stake. IDBI Bank became a subsidiary of LIC with effect from January 21, 2019, after the acquisition of an additional 82,75,90,885 equity shares.

GST Authority imposes Rs 36,844 penalty on LIC

GST Authority imposes Rs 36,844 penalty on LIC

Wed, Oct 11, 2023

The corporation has received a communication/demand order for collection of GST, along with interest and penalty for Jammu & Kashmir state, LIC said in a regulatory filing.

Finance Ministry approves welfare measures for LIC agents, employees

Finance Ministry approves welfare measures for LIC agents, employees

Mon, Sep 18, 2023

The welfare measures are related to the amendments to LIC (Agents) Regulations, 2017, Enhancement of Gratuity Limit, and Uniform Rate of Family Pension, among others, the finance ministry said in a statement.

LIC presents dividend cheque of Rs 1,831 crore to FM Sitharaman

Thu, Sep 14, 2023

LIC Chairman Siddhartha Mohanty presented the dividend cheque as the government's share of dividend in the presence of Department of Financial Services Additional Secretary MP Tangirala, the insurer said in a statement.

LIC Q1 profit rises fourteen-fold

LIC Q1 profit rises fourteen-fold

Fri, Aug 11, 2023

Life Insurance Corporation of India on Thursday reported a near fourteen-fold surge in first-quarter profit.

LIC Mutual Fund completes merger of IDBI Mutual Fund schemes

LIC Mutual Fund completes merger of IDBI Mutual Fund schemes

Mon, Jul 31, 2023

LIC Mutual Fund (LIC MF) on Monday said it has completed the takeover of schemes of IDBI Mutual Fund.

Govt appoints Sat Pal Bhanoo as MD of LIC

Govt appoints Sat Pal Bhanoo as MD of LIC

Wed, Jul 19, 2023

Sat Pal Bhanoo appointed MD of Life Insurance Corporation (LIC): He will take over as the LIC MD in place of Siddhartha Mohanty, who was appointed as the chairman of LIC in April.

Life insurers' Q1 new business premium collections decline 0.9%: Report

Life insurers' Q1 new business premium collections decline 0.9%: Report

Wed, Jul 12, 2023

Among total collections in the first quarter, private players grew 10.6 per cent to Rs 28,167.7 crore year-on-year from Rs 25,473.5 crore, when it grew by 48.8 per cent.

LIC launches new non-linked period plan 'Dhan Vridhhi'

LIC launches new non-linked period plan 'Dhan Vridhhi'

Fri, Jun 23, 2023

National insurer Life Insurance Corporation on Friday launched a new close-ended plan Dhan Vridhhi. The new plan will be on sale from June 23 through September 30, the insurer said in a statement.

SBI, LIC, two other sponsors to dilute stake in UTI Mutual Fund

SBI, LIC, two other sponsors to dilute stake in UTI Mutual Fund

Thu, Jun 15, 2023

UTI Mutual fund is promoted by the State Bank of India (SBI), Life Insurance Corporation of India (LIC), Punjab National Bank (PNB) and Bank of Baroda (BoB), having a combined holding of 45.21 per cent in the paid-up capital.

LIC Q4 net profit surges over 5-fold to Rs 13,191 crore, announces dividend of Rs 3/share

LIC Q4 net profit surges over 5-fold to Rs 13,191 crore, announces dividend of Rs 3/share

Wed, May 24, 2023

The income from renewal premiums in the reporting period rose to Rs 76,328 crore compared to Rs 71,473 crore a year ago, while the single premium decreased to Rs 43,252 crore from Rs 58,251 crore.

LIC's shareholding in HPCL crosses 5%

LIC's shareholding in HPCL crosses 5%

Tue, May 09, 2023

HPCL is engaged in the business of refining crude oil and marketing petroleum products

Govt appoints Siddhartha Mohanty as new LIC chairman

Govt appoints Siddhartha Mohanty as new LIC chairman

Fri, Apr 28, 2023

Currently, Mohanty, Managing Director of LIC, is the acting chairman of the country's biggest life insurance firm after MR Kumar completed his term on March 13, 2023.

LIC's shareholding in L&T Technology Services Ltd crosses 5 per cent

LIC's shareholding in L&T Technology Services Ltd crosses 5 per cent

Mon, Apr 24, 2023

The acquisition of shares were done during the period from October 20, 2021 to April 21, 2023 at an average cost of Rs 4,140.67 per shares, it said.

LIC's net income jumps manifold to Rs 6,334.2 crore in Q3

Sun, Apr 09, 2023

Higher premium income and investment gains boosted the public sector life insurer LIC's net income manifold to Rs 6,334.2 crore during the three months ending December 2022 as against Rs 235 crore a year ago.

LIC's debt exposure in Adani group companies dips marginally to Rs 6,183 crore as of March 5

LIC's debt exposure in Adani group companies dips marginally to Rs 6,183 crore as of March 5

Mon, Mar 13, 2023

Finance Minister Nirmala Sitharaman said, "The Life Insurance Corporation of India (LIC) has informed that its debt exposure to Adani Group of Companies, was Rs 6,347.32 crore and Rs 6,182.64 crore, as on December 31, 2022, and March 5, 2023, respectively".

LIC Bima Ranta: Get 3-in-1 benefits - survival, guaranteed bonus and death benefit

LIC Bima Ranta: Get 3-in-1 benefits - survival, guaranteed bonus and death benefit

Wed, Mar 08, 2023

LIC Bima Ratna Policy Details: LIC’s Bima Ratna is a non-linked, non-participating, individual, savings, life insurance plan which offers a combination of all three.

LIC ADO Admit Card 2023: LIC releases ADO Exam Admit Card, check details

LIC ADO Admit Card 2023: LIC releases ADO Exam Admit Card, check details

Sun, Mar 05, 2023

Candidates can download the admit card by visiting the official website www.licindia.in. The recruitment examination of ADO will be held on March 12 this year. Candidates can download their admit card by following the given steps.

LIC WhatsApp Services: How to register, services offered and other details

LIC WhatsApp Services: How to register, services offered and other details

Tue, Jan 31, 2023

LIC WhatsApp Services: By using the Whatsapp service, policy holders will be able to avail several services like getting premium details, ULIP plan statements, and so on, from their mobile phone.

IDBI Bank stake sale: Financial bids expected to come in by September, says top govt official

IDBI Bank stake sale: Financial bids expected to come in by September, says top govt official

Wed, Jan 11, 2023

The Department of Investment and Public Asset Management (DIPAM), which manages government holding in state-owned enterprises, had in October invited bids for selling 30.48 per cent stake in IDBI Bank, along with 30.24 per cent stake of LIC.

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