Life Insurance Corporation of India
Life Insurance Corporation of India (LIC) is a state-owned insurance and investment corporation in India. It was established in 1956 under the Life Insurance of India Act that nationalised the insurance industry in the country. The company has a central office in Mumbai ,with 8 zonal offices,109 divisional offices, 2048 fully computerised branches and to serve rural people. LIC has now opened 992 satelite offices in rural areas.
See below for the Latest Life Insurance Corporation of India News, Analysis, Profit Results, Share Price Information, and Commentary.
Life Insurance Corporation of India sees profits up 3.5% YoY in H1 2024
Life Insurance Corporation of India sees profits up 3.5% YoY in H1 2024
LIC's total premium income rose by 13.56% YoY.
India’s LIC cuts first-year commission to 20%
This adjustment brings the total first-year commission down from 35% to 28%.
Life Insurance Corporation of India’s Q1 profit up 9.6% YoY
Total premium income for Q1 2024 stood at $1.4b.
Life Insurance Corporation of India eyes ~3% growth in new business margin
It also announced plans to acquire a majority stake in standalone health insurance.
Global insurers see 6.2% growth in average premiums
China Life Insurance topped its regional peers and was in 5th place globally.
LIC net profits surges by 39.4% in full-year 2021
This is despite a fall of 18% in profits in the fourth quarter.
LIC closes IPO with nearly three-fold oversubscription
The IPO of a 3.5% stake is now India’s biggest.
India’s LIC IPO subscribed 67% on first day
The $2.7b IPO is India’s biggest public issue.
India slashes LIC IPO to 3.5%
The IPO was initially set at 5%.
LIC IPO expected share sales drops to $6.6b
Initial reports predicted that the Indian life giant share sales would be at $8b.
LIC losing ground in India market share
Its competitors have projected double-digit growth from 2016 to 2020.
India central bank hints on possible delay of $8b LIC IPO
Several current events may have factored in on the delay.
India’s $8b IPO plans could go under review amidst Russian-Ukraine crisis
The IPO was scheduled to launch this March.
India approves 20% FDI for LIC $8b IPO—report
IPO is set to launch in March.
LIC prospective investors wary of govt’ meddling in the insurer
The insurer was frequently tapped to save struggling financial firms.
LIC embedded value soars to $72b in just six months
The jump in value was attributed to splitting of policyholders funds.
Lack of ‘political will’ won’t delay LIC IPO: Nirmala Sitharaman
India’s finance minister said they plan to finish the IPO by March.
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