LIC of India Secures 4th Position in Global Ranking of Top Life Insurance Companies
The top three spots on the list are occupied by Allianz SE, China Life Insurance Co. Ltd., and Nippon Life Insurance Co. This ranking highlights LIC's substantial presence in the global life insurance landscape and its financial strength, as measured by life and accident & health reserves.
SC Takes Firm Stand on Plea Seeking Probe into LIC and SBI, Calls It College Debate
The Supreme Court, in a recent session, adopted a firm stance on pleas urging an investigation into the operations of Life Insurance Corporation (LIC) and the State Bank of India (SBI).
Govt mulling to relax retirement age of LIC chairman, PSB chiefs
According to reports, State Bank of India (SBI) Chairman Dinesh Khara may get an extension. He had taken charge as SBI chief in October 2020 for three years. As per norms, the SBI Chairman can hold the post until the age of 63. Khara will turn 63 in August next year.
LIC holding in Tech Mahindra increases to 8.8 per cent
Tech Mahindra Ltd provides a comprehensive range of IT services, including IT-enabled service, application development and maintenance, consulting and enterprise business solutions. In May, LIC had announced that its shareholding in Tata Power has increased from 5.917 per cent to 7.935 per cent of the paid-up capital of the said company.
LIC leads 24 member club in terms of policies sold, premium earned
The life insurance industry sold about 2.85 crore policies and schemes down from about 2.91 crore policies sold in FY22 - a fall of 2.19%. Interestingly, the share of government-owned Life Insurance Corporation of India (LIC) in the total is a whopping 2.04 crore (previous year about 2.17 crore) whereas the 23 private life insurers together sold the remaining 81 lakh policies and 74 lakh schemes.
Domestic investor holding touch another all-time high
According to Pranav Haldea, Managing Director, Prime Database Group, this was the fifth consecutive quarter where the holding has increased, having come up from 22.37 per cent as on September 30, 2021, and showcases the rising dominance of domestic investors.
LIC announces net at Rs 22,970 cr, to meet Adani group officials
The life insurer has about four per cent of its equity investment portfolio in Adani Group companies. According to LIC, for the nine months ending December 31, the company had logged a total premium of Rs 3,42,244 crore (Rs 2,83,673 crore in 9 months ending December 31, 2021) and a net profit of Rs 22,970 crore (Rs 1,672 crore).