Life Insurance Corporation Of India Lic

Godrej Properties, Amber Enterprises hit 52-week lows; LIC at life-time low

LIC hit a life-time low of Rs 562.35, falling below its previous low of Rs 566 touched on February 27, and was down 9% in three weeks.

FSIB to soon start selection process for new LIC chairman this month

The Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned banks and financial institutions, may select a new chairman of insurance behemoth LIC this month. The chairman will be selected from the four managing directors of the company, sources said. According to sources, the bureau may conduct an interview for the position towards the end of next week if all members of the committee are available. FSIB is likely to make a selection this month, subject to the availability of members due to Parliament's Budget session, sources said. The final decision on the FSIB recommendation will be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi. It can be noted that one of the managing directors BC Patnaik retires on March 31. The government has already appointed Tablesh Pandey as his replacement. Currently, Siddhartha Mohanty, managing director of LIC, is acting chairman of the country's biggest life insurance firm

60% private insurers register significant rise in fraud: Deloitte survey

About 60 per cent of Indian private insurers believe there has been a significant rise in insurance-related frauds, and as risks lurk there is an immediate need to consider a proactive fraud risk management framework, a Deloitte survey said on Thursday. Insurance companies in India have experienced a rise in fraud instances in life and health insurance, and increased digitisation, remote working post pandemic and weakened controls are key factors contributing to frauds, according to Deloitte's Insurance Fraud Survey 2023. "About 60 per cent of survey respondents believe that there has been a significant rise in fraud, while further 10 per cent experienced a marginal increase," the survey said. The survey, conducted in the second quarter of FY2023, was based on interviews with key C-suite stakeholders/senior management responsible for compliance across leading private insurers in India. Technology-led innovation in the insurance sector has brought agility, speed, superior customer .

Govt made Rs 31,106 cr in FY23 through disinvestment, reports DIPAM

The sale of 3.5 per cent of its stake in the LIC through an IPO brought the govt Rs 20,516.12 crore as receipts

Life insurers' new biz premium growth eases to 10% as LIC loses pace

LIC witnessed a moderation in premia because of a decline in group single premia. LIC is the largest player in the group single premium market

2022 in review: IPOs that doubled your money or made holes in your pocket

After a stellar run last year, the IPO market seemed to have lost some momentum this year. Here are the IPOs that doubled your money or made holes in your pocket

7.4% interest rate locked in for 10 years: Who should buy LIC's PMVVY

SCSS, which offers 80C benefit, allows you to lock in at 7.6% for five years

LIC raises stake in HDFC to over 5% post acquiring shares from open market

Life Insurance Corporation of India (LIC), the country's largest insurer, has increased its stake in HDFC Ltd to over 5 per cent following the acquisition of shares from the open market. LIC purchased 1.2 lakh shares from the open market hiking its stake in the company to 5.003 per cent, mortgage lender HDFC Ltd said in a regulatory filing on Monday. LIC in a separate filing said the holding increased from 4.991 per cent to 5.003 per cent, an increase of 0.012 per cent at an average cost of Rs 2,673.84 per unit. The insurer made the purchase on December 2, 2022, it added. LIC purchased additional shares at a total cost of about Rs 57.2 crore. Shares of the HDFC closed at Rs 2,674.95, up by 0.35 per cent on the BSE. Before the acquisition, LIC held over 9.09 crore shares representing 4.991 per cent stake in the company. Earlier in April, HDFC Ltd decided to merge with its banking subsidiary HDFC Bank. Touted as the biggest transaction in India's corporate history, HDFC Bank on April

LIC trims stake in large-caps: Check how Sun Pharma, Maruti look on charts

The technical outlook for Sun Pharma and Maruti remains bullish, while the trend for Bajaj Auto is looking weak on charts. Power Grid, meanwhile, needs to overcome the hurdle of Rs 240 level

LIC aims to reach a mix of 75:25 between par and non-par in individual biz

The corporation has launched only non-par products this year, which cater to specific segments in its drive to increase the non-par business

Investors react positively to LIC's good showing in second quarter

LIC posted a record rise in the Q2 profit after tax (PAT) to Rs 15,950 crore, up 10x year-on-year (YoY) compared to Rs 1,433.71 crore a year ago

Stocks to Watch: Hinduja Group, RIL, SBI, LIC, M&M, Hindalco, KRBL, NDTV

Stocks to Watch Today: Shares of Apollo Tyres, Bharat Forge, Grasim, Indiabulls Housing Finance, IRCTC , MMTC, MTNL, SpiceJet and Strides Pharma are likely to see some action owing to Q2 results.

LIC drives new business premiums of life insurers up 15% YoY in October

The surge in LIC's NBP was primarily driven by a 30% increase in its group single premium

LIC buys additional stake in Voltas for Rs 635 cr via open mkt transactions

Life Insurance Corporation of India (LIC) has increased its shareholding in Voltas by buying an additional 2 per cent stake. LIC said it acquired Voltas' shares worth Rs 634.50 crore through open market transactions during the period from August 10 to November 4, 2022. The state-owned life insurer increased its shareholding from 2,27,04,306 shares (equivalent to 6.862 per cent) to 2,93,95,224 (8.884 per cent) in Voltas, according to a regulatory filing on Monday. Voltas is engaged in the business of air conditioning, refrigeration, electro-mechanical projects as an EPC (engineering, procurement and construction) contractor both in domestic and international market. Stock of LIC closed at Rs 633.30 apiece on BSE, up by 0.84 per cent, while Voltas scrip ended 1.24 per cent lower at Rs 834.40 apiece.

CCI puts AGI Greenpac's acquisition of HNG on hold, seeks more details

On the CCI website, the notice filed by AGI Greenpac on September 27 regarding the acquisition, has been marked as 'Notice Not Valid'

LIC, Nykaa, Tata Motors: Are these buzzing stocks bottoming out?

Sun Pharmaceutical seems set to register a new 52-week high; while Tata Motors and Torrent Pharmaceuticals are yet to take-off their respective obstacles, charts show.

Thrust on non-par products to yield desired results: LIC chief M R Kumar

We intend to sharpen the focus on bancassurance to steadily and considerably increase its volume, thereby its share in our business, said Kumar

LIC plans to increase agent strength by 40%, ramp up HR systems

India's largest insurer is also looking to revamp its human resources systems in its drive to make the oldest insurance company more technologically advanced, said people aware of the development

LIC Housing finance hikes lending rate by 60 bps, home loans start at 7.5%

Says hike is in line with market scenario; rates are still very competitive and demand for home loans is to likely to sustain

LIC slips for 8th straight day on muted growth, down 24% from issue price

LIC's inability to move up in the customer segment by significantly changing its product and distribution mix means that the insurer will continue to lose market share.