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Life Insurance Corporation of India (LIC) has delivered another strong quarterly performance, with higher premium income and expanding assets driving a 31% year-on-year rise in consolidated net profit to Rs 10,098 crore for the September quarter.The state-run insurer’s premium income rose 5.5% to Rs 1,26,930 crore from Rs 1,20,326 crore a year earlier, even as…
The government is planning to sell a stake worth $1–1.5 billion (Rs 8,800–13,200 crore) in Life Insurance Corporation of India (LIC) by the end of this year, people aware of the discussions told ET. The move is aimed at increasing the insurer’s public shareholding to 10% — the level required under Securities and Exchange Board…
Life Insurance Corporation (LIC) of India NEW DELHI: Days after Washington Post reported that the Centre had asked LIC to invest in Adani Group companies, the state-run player has said that it did not receive any instructions from the govt for investing in any entity of the conglomerate. “LIC categorically clarifies that the documents mentioned…
Jairam Ramesh slams PM Modi NEW DELHI: Congress Saturday demanded that Parliament’s Public Accounts Committee (PAC) probe the LIC after a Washington Post report claimed the state-run insurer made huge investments in Adani Group securities after they took a beating in the markets. Congress spokesperson Jairam Ramesh termed the report a “disturbing revelation” about the…
The Life Insurance Corporation of India (LIC) has dismissed the allegations made in a report by The Washington Post as “false, baseless and far from the truth” that claimed Indian officials had influenced the insurer’s investment decisions in Adani group companies.In a statement, LIC clarified that its investments are made independently and in accordance with…
The combined market valuation of eight of the 10 most valued domestic firms jumped Rs 1,69,506.83 crore last week, in line with an upbeat trend at Dalal Street. Bajaj Finance led the gainers, while Hindustan Unilever and LIC were the only laggards.During the week, the BSE benchmark surged 1,193.94 points or 1.47 per cent, boosting…
