LIC appoints Infosys to build its NextGen Digital Platform
Sep 16, 2024, at 10:05 pm
Life Insurance Corporation of India (LIC) has undertaken a digital transformation programme named DIVE (Digital Innovation and Value Enhancement). Under DIVE, LIC aims to significantly boost its digital platform with an aim to provide superior experience to its customers, field force, partners and employees.
LIC looking to acquire health insurance companies: Report
Aug 09, 2024, at 07:57 pm
Mumbai/IBNS: The Life Insurance Corporation of India (LIC) is planning to take the acquisition route to get into the health insurance business, the Times of India (TOI) reported, citing LIC's MD and CEO Siddhartha Mohanty.
LIC fires employee banned by SEBI in front-running case
Mar 21, 2024, at 06:29 am
Mumbai: Insurance behemoth Life Insurance Corporation of India (LIC), a government-owned entity, said on Wednesday that it terminated the employment of a worker banned by the Securities & Exchange Board of India (SEBI) for involvement in a front-running incident, according to a stock market filing.
LIC hikes employee salaries; to benefit 1,10,000 workers
Mar 16, 2024, at 05:10 pm
The Centre has approved wage revision of LIC employees with effect from 01/08/2022, benefiting more than 1,10,000 LIC employees, a press release said on Friday.
LIC introduces Amritbaal, a policy to help parents save for their children's future
Feb 18, 2024, at 12:03 am
Mumbai: The Life Insurance Corporation (LIC) unveiled a new product Amritbaal on Saturday. The new offering was launched by Financial Services Secretary Dr. Vivek Joshi.
LIC receives tax refund of Rs 21,740 cr from IT Dept
Feb 17, 2024, at 02:43 am
Mumbai: The Life Insurance Corporation of India (LIC) on Friday said that it had received a tax refund amounting to Rs 21,740.77 crore from the Income Tax Department for the assessment years spanning from 2013 to 2020.
LIC Q3FY24: Profit grows 49% YoY to Rs 9,441 cr
Feb 09, 2024, at 04:45 am
Mumbai: The Life Insurance Corporation (LIC) of India announced a 49 percent surge in net profit to Rs 9,441 crore for the October-December quarter of the fiscal year 2023-24, an increase from the Rs 6,334 crore reported in the same period last year.
LIC Q2FY24 profit DROPS 50% to Rs 15,952 cr
Nov 11, 2023, at 03:22 am
Mumbai: Life Insurance Corporation (LIC) of India declared a 50 percent decrease in net profit, amounting to Rs 7,925 crore, for the quarter ending on September 30, 2023. This marks a massive drop from the net profit of Rs 15,952 crore reported during the corresponding period last year.
LIC gets notice to pay Rs 290 cr GST with interest and fine
Sep 23, 2023, at 03:26 am
New Delhi: The Life Insurance Corporation of India (LIC) has received an order under the BGST and CGST Act 2017 from the Additional Commissioner State Tax of Bihar, demanding Rs 290 crore in goods and service tax, along with interest and penalty, ET reported.
Govt approves welfare measures for LIC agents, staff
Sep 20, 2023, at 06:18 am
New Delhi: The Union Finance Ministry on Monday approved various welfare measures for LIC (Life Insurance Corporation) agents and employees.
LIC increases equity stake in Tech Mahindra to 8.8%
Jun 08, 2023, at 07:27 am
Mumbai: Life Insurance Corporation of India (LIC), the largest insurance company in India, has raised its ownership stake in Tech Mahindra, an IT services provider, through open market transactions.
Sat Pal Bhanoo and R Doraiswamy recommended for the role of LIC MD
Jun 07, 2023, at 06:24 am
Mumbai: The Financial Services Institutions Bureau (FSIB) has put forth the names of Sat Pal Bhanoo and R Doraiswamy as its recommendations for the role of Managing Director at LIC of India, Moneycontrol reported.
Odisha train accident: IRDAI orders insurance companies to settle insurance claims suo moto
Jun 06, 2023, at 01:14 am
Mumbai: The Insurance Regulatory and Development Authority of India (IRDAI) has directed insurance companies to proactively initiate the settlement of claims for the victims of the Odisha train tragedy, The Economic Times (ET) reported.
Odisha train accident: IRDAI orders insurance companies to settle insurance claims suo moto
Jun 06, 2023, at 01:14 am
Mumbai: The Insurance Regulatory and Development Authority of India (IRDAI) has directed insurance companies to proactively initiate the settlement of claims for the victims of the Odisha train tragedy, The Economic Times (ET) reported.
LIC Q4FY23 profit leaps 466% to Rs 13,427.8 cr
May 25, 2023, at 04:54 am
Mumbai: Life Insurance Corporation of India (LIC) Wednesday reported a Q4FY23 standalone net profit of Rs 13,427.8 crore, marking a growth of 466 percent compared to the same period in the previous fiscal year.
After rout in Adani stocks, LIC likely to cap exposure in companies: Report
Mar 25, 2023, at 02:27 am
Mumbai: After $100 billion erosion in Adani stocks in the wake of Hindenburg Research’s negative report, the Life Insurance Corporation (LIC) is mulling its debt and equity exposure limit to companies, according to a media report.
CCI approves LIC MF arm's acquisition of IDBI MF
Mar 23, 2023, at 05:16 am
New Delhi/IBNS: The Competition Commission of India (CCI) has approved the proposed acquisition of the management rights over the schemes of IDBI MF from IDBI Asset Management Limited by the LIC Mutual Fund Asset Management Ltd.
Govt appoints Siddhartha Mohanty as interim chairman of LIC: Report
Mar 12, 2023, at 08:20 pm
Mumbai: The Centre has appointed Siddhartha Mohanty as the interim chairman of the Life Insurance Corporation of India (LIC) for a three months period, starting March 14, according to CNBC.
FM Sitharaman says LIC, SBI exposure to Adani Group within permissible limits: Report
Feb 04, 2023, at 02:58 am
Mumbai: Finance Minister Nirmala Sitharaman Friday said the exposure of big lenders such as LIC and State Bank of India (SBI) to the crisis-hit Adani Group is well within the permissible limits as stated by these lenders, according to media reports.
LIC Q1FY23: Net profit shoots to Rs 603 cr; premium income grows to Rs 98,805
Aug 13, 2022, at 04:27 am
Government-owned Life Insurance Corporation (LIC), which recently went public, Friday said its net profit rose to a staggering Rs 603 crore in the quarter ended June 30 from Rs 24.3 crore in the same quarter last fiscal.
LIC fixes IPO price at Rs 949 apiece, listing could begin Tuesday
May 15, 2022, at 04:11 am
Mumbai/IBNS: Life Insurance Corporation (LIC), whose public issue ended Monday, has fixed its IPO price at Rs 949 apiece.
May 07, 2022, at 02:25 am
Mumbai/IBNS: The initial public offering (IPO) of Life Insurance Corporation (LIC), India's largest life insurance enterprise, has been oversubscribed 1.31 times, receiving bids for 21.3 crore shares against the offer of 16.2 crore shares, Moneycontrol reported.
LIC IPO opens today for subscription
May 04, 2022, at 02:14 pm
New Delhi: State-owned insurance major Life Insurance Corporation of India's Initial Public Offering (IPO) will open for subscription on Wednesday.
Countdown begins: LIC's Initial Public Offering to commence on May 4, ends on May 9
Apr 30, 2022, at 12:04 am
Kolkata: The countdown has started as state-owned insurance major Life Insurance Corporation of India's Initial Public Offering (IPO) will open on May 4 for subscription and will continue till May 9.
LIC's Initial Public Offering to open on May 4
Apr 29, 2022, at 11:06 pm
Kolkata: State-owned insurance major Life Insurance Corporation of India's Initial Public Offering (IPO) will open on May 4 for subscription.
LIC IPO likely to be on May 4: Report
Apr 26, 2022, at 11:38 pm
New Delhi: Life Insurance Corporation of India (LIC IPO) is likely to open on May 4 and is expected to close on May 9, according to media reports.
LIC board approves reduction in IPO size: Report
Apr 24, 2022, at 05:16 am
New Delhi: The LIC board has approved a reduction in its initial public offering (IPO) issue size from 5 percent to 3.5 percent, media reports said.
Govt may cut LIC IPO by 40 pc: Report
Apr 22, 2022, at 11:49 pm
New Delhi: The government expects to raise Rs 30,000 crore through an initial public offering of state-owned Life Insurance Corp, almost 40 percent lower than previous estimates as the war in Ukraine mars valuations, media reports said.
Government ready to launch LIC IPO in May, say sources: Report
Apr 05, 2022, at 10:08 pm
New Delhi: The government is set to launch the Life Insurance Corporation of India's initial public offering in early May, media reports said.
LIC's DRHP gets SEBI's approval
Mar 09, 2022, at 04:59 pm
The Securities Exchange Board of India (SEBI) has given its nod to the state-owned insurance behemoth LIC's (Life Insurance Corporation of India) Draft Red Herring Prospectus (DRHP), media reports said.