Page 17 - Life Insurance Corporation

IDBI Bank sells 23% stake in life insurance JV to Belgian partner

LIC-controlled IDBI Bank on Thursday said it has sold 23 per cent stake in life insurance venture to foreign partner Ageas for Rs 507 crore

IDBI Bank sells 23% stake in its life insurance arm to Ageas for Rs 507 cr

With this, Ageas will hold 49% in the insurance venture, which is being rebranded as Ageas Federal Life Insurance Company

LIC sells 2% stake in pvt lender ICICI Bank via open market transactions

Following the stake sale, LIC's holding in the bank has reduced to 6.74 per cent from 8.74 per cent earlier,

Things India must do to be a functioning social democracy

If even a modest but growing social welfare package is to be affordable, the public sector has to perform or be disbanded so that the govt can shut down one of the two cash burners, writes T N Ninan

Canara Bank raises Rs 2,000 cr via QIP; LIC emerges as largest investor

State-owned Canara Bank on Friday said it has successfully raised Rs 2,000 crore equity capital by issuing over 19 crore shares to eligible investors. LIC emerged as the largest investor in the bank's qualified institutional placement (QIP) issue. The subcommittee of the board at its meeting held today (December 11, 2020), approved allotment of 19,32,36,714 equity shares to eligible qualified institutional buyers (QIBs) at an issue price of Rs 103.50 per equity share, aggregating up to Rs 2,000 crore, Canara Bank said in a regulatory filing. The QIP had opened on December 7 and closed on December 10. Among the allottees - who were allotted more than 5 per cent of the total equity shares offered in the issue - include Life Insurance Corporation (25 per cent), BNP Paribas Arbitrage (9.11 per cent), Nippon Life India Trustee Ltd (8.81 per cent), Societe Generale (7.91 per cent) and Kuber India Fund (6.16 per cent). "Pursuant to the allotment of equity shares in the QIP, the paid-up .

Confident of returning to double-digit growth by FY21-end: LIC chairman

The pandemic has shed light on the importance of life insurance. It may become an essential part, says Kumar

LIC's equity portfolio value may be at an all-time high of $86 billion

The insurance behemoth's portfolio value has soared by $31 billion since March 2020

FinMin invites bids from actuarial firms for valuing LIC ahead of IPO

The government plans to sell minority stake in the insurance behemoth and list it on the bourses

12 firms to be part of MSCI India index in latest rejig; Bosch, LIC out

The changes in constituents for the MSCI global standard indices will take place as of the close of November 30, 2020

LIC IPO may spill over to next fiscal as govt looks at valuation of insurer

A stake sale in LIC is crucial for meeting a record Rs 2.1 lakh crore disinvestment target set for the current fiscal ending March 31, 2021

Centre's PSU disinvestment drive gets a helping hand from LIC, SBI

The two lapped up the bulk of shares during the offers for sale of HAL, Bharat Dynamics

Will the IPO everyone is waiting for come this year? Find out LIC 'plans'

In this podcast, Business Standard's Shrimi Choudhary discusses what has been done so far in the LIC IPO, what needs to be done to be on track and about the complexities surround the listing

Anil Agarwal's mega bid to take Vedanta private runs into rough weather

In the event, Vedanta RBB fails to get bids for at least 1.34 billion shares--- the minimum required for the promoters to acquire 90 per cent shareholding-the delisting bid would fail

Life insurers see 16% growth in new business premiums in September quarter

New business premiums of life companies rose 26% in September, with LIC leading the way

Do your research well before buying a life insurance plan for the long run

Customers must also avoid the temptation to cash out of their policies mid-tenure, once they have gathered considerable fund value.

Irdai says LIC, GIC Re, New India are too big to fail, need more control

The three are seen as key players to deal with systemic risks and moral hazard issues, have been told to raise corporate governance levels and promote a sound risk management culture

LIC, GIC, New India Assurance systemically important insurers: IRDAI

The three insurers have also been asked to raise the level of corporate governance, identify all relevant risks and promote a sound risk management culture, IRDAI said in a statement

Major defaults in our corp bond holdings due to Covid unlikely: LIC chief

In a Q&A, chairman M R Kumar says the insurance behemoth isn't considering scaling down targets and hopes to reach its budgeted figures at the end of FY21

LIC's FY21 business will be higher than last year: Chairman Kumar

The life insurer hopes to sell 22 million policies and collect Rs 51,300 cr in first year premium income from individual business this financial year

LIC IPO unlikely this fiscal year due to delay in valuation process

A lot of work to be done before insurer is ready for market debut, admit LIC and govt officials