Page 11 - Life Insurance Corporation

Govt proposes to hike in LIC's authorised capital to Rs 25,000 cr

The government has proposed to significantly increase the authorised capital of Life Insurance Corporation of India (LIC)

How insurance sector will gain from FM Sitharaman's Budget booster

What do the Budget proposals, as well as the proposed LIC IPO and privatisation of one general insurance company mean for the sector? Nikita Vashisht explains

State-owned Life Insurance Corp launches new plan Bima Jyoti

The plan is a non-linked, non-participating, individual, savings plan offering a combination of protection and savings

Sebi's new free float norms and what it means for LIC IPO: Explained

Why are free float shares important? What is the free float requirement for newly listed companies? How and who will the Sebi move benefit? In this podcast, we explained Sebi's new free float norms

Pre-IPO process on, valuation to start soon, says LIC MD Mukesh Gupta

The IPO will be handled by the Department of Investment and Public Asset Management, said Gupta

LIC IPO may hit market in fourth quarter of next fiscal: DEA Secretary

The initial public offering of LIC may hit the market in the fourth quarter of fiscal 2022

LIC employees protest against Centre's disinvestment proposal, oppose move

The Budget proposals for 2021-22 on Monday put Rs 1.75 trillion as a target from stake sale in public sector companies and financial institutions

Top Headlines: LIC IPO likely after Oct; HDFC Q3 net profit declines 65%

Here are all the top economy and markets headlines of today

IDBI Bank takes prompt corrective action; all eyes now on Q3 results

The lender has stabilised under LIC ownership, but its exit from the central bank's restrictions may be some time away

Open to opportunities of paring stake in IDBI Bank: LIC's Vipin Anand

An increase in economic activity since the unlock process started in June has resulted in an uptick in the business performance of LIC, says LIC MD Vipin Anand

Humungous land assets a major hurdle in the PSU privatisation process

Large land holdings with public sector companies can scare off potential investors, who have to deal not only with issues about pricing of the land, but also about ownership rights

SAT sets aside Sebi's penalty on SBI, Bank of Baroda, LIC in UTI AMC case

Sebi had in August levied the fine on the three firms for failing to reduce their stakes to below 10 per cent in UTI AMC within the stipulated timeline

LIC launches new campaign to revive lapsed policies amid Covid-19

To encourage individuals to continue their risk cover amid the coronavirus pandemic, LIC on Thursday launched a campaign where lapsed policies can be revived. The insurance behemoth has launched a Special Revival Campaign starting from January 7 till March 6 for its customers to revive their lapsed individual policies subject to certain conditions. It has also authorised its 1,526 satellite offices to revive policies where special medical tests are not required. "Under this Special Revival Campaign, policies of specific eligible plans can be revived within five years from the date of the first unpaid premium subject to terms and conditions," LIC said in a statement. Certain concession in health requirements is also being offered subject to eligibility, it said, adding that most policies can be revived only on the basis of a declaration of good health and a COVID-19 questionnaire to be submitted by the proposer/ life assured. LIC had launched a similar campaign from August 10 till

RBI wants IDBI Bank to come out of PCA framework before stake sale

The government's shareholding in the lender is 47.11 per cent, while LIC holds 51 per cent in it

Govt appoints Milliman Advisors to find out LIC value ahead of IPO

The work on determining the embedded value of India's largest insurer would start soon, Dipam Secretary Tuhin Kanta Pandey tweeted

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 .