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LIC’s value to be assessed by adviser: Govt

Finance minister Nirmala Sitharaman had announced about selling a minority stake in the government-run insurance behemoth giant in the Budget on February 1, 2020. “The government now proposes to sell a part of its holding in LIC by way of Initial Public Offer (IPO),” she had said. LIC is 100% owned by the Union government.
Finance minister Nirmala Sitharaman had announced about selling a minority stake in LIC.(Reuters)
Finance minister Nirmala Sitharaman had announced about selling a minority stake in LIC.(Reuters)
Published on Jan 01, 2021 04:30 AM IST
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Hindustan Times, New Delhi | ByRajeev Jayaswal

LIC books record profit during April-November

The profit is a 66.3% jump from the Rs 15,578 crore gains in the year-ago period and more than 80% of its full-year target of Rs 32,000 crore which, if realised, will be the insurer’s highest earnings from equity investments in its 64-year history.
The bumper gains have been helped by a resurgent stock market. The BSE’s benchmark Sensex gained 56.4% since April 1.(Rajkumar/HT MINT)
The bumper gains have been helped by a resurgent stock market. The BSE’s benchmark Sensex gained 56.4% since April 1.(Rajkumar/HT MINT)
Updated on Dec 14, 2020 06:17 AM IST
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Livemint, New Delhi | ByAnirudh Laskar

Regulator plans to relax public issue norms

In a consultation paper, the Securities and Exchange Board of India (Sebi) proposed that companies with a post-issue capital of above 10,000 crore will be required to initially sell only 5% of the company to the public.
The proposal, if implemented, may help the upcoming IPO of the country’s largest insurer LIC since the value of the shares on offer in the IPO by the insurance behemoth may be too high for investors to absorb.(Reuters)
The proposal, if implemented, may help the upcoming IPO of the country’s largest insurer LIC since the value of the shares on offer in the IPO by the insurance behemoth may be too high for investors to absorb.(Reuters)
Published on Nov 21, 2020 03:57 AM IST
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Livemint, Mumbai | ByAnirudh Laskar

Centre invites bids from actuarial firms for valuing LIC ahead of IPO

The Request for Proposal has been issued to seek proposals / bids from reputed and eligible actuarial firms to work with LIC to “develop IEV in line with the requirements of the relevant Acts and regulations,
The government plans to sell minority stake in the insurance behemoth LIC and list it on the bourses(Ramesh Pathania/Mint.)
The government plans to sell minority stake in the insurance behemoth LIC and list it on the bourses(Ramesh Pathania/Mint.)
Published on Nov 16, 2020 06:01 PM IST
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New Delhi | ByPress Trust of India | Posted by Ayshee Bhaduri

UTI AMC’s public offering to finally hit

Last year, Sebi had directed LIC, SBI and BoB to reduce their stakes in UTI AMC by December, failing which, the regulator would freeze excess voting rights.
The IPO will see shareholders State Bank of India, Punjab National Bank, Bank of Baroda, Life Insurance Corporation of India and T Rowe Price International pare their shareholdings in UTI AMC.
The IPO will see shareholders State Bank of India, Punjab National Bank, Bank of Baroda, Life Insurance Corporation of India and T Rowe Price International pare their shareholdings in UTI AMC.
Published on Sep 25, 2020 12:37 AM IST
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Hindustan Times, Mumbai | ByNasrin Sultana, Mumbai

‘We dedicate ourselves to welfare of customers’: LIC on its 65th anniversary

“LIC has spread its wings from being the leading Life Insurance Company into an internationally recognized financial conglomerate with the presence in fourteen countries,” a press release issued by the company said.
LIC celebrated its 65th anniversary on September 1(Reuters image)
LIC celebrated its 65th anniversary on September 1(Reuters image)
Updated on Sep 03, 2020 06:59 AM IST
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New Delhi | Byhindustantimes.com | Posted by Prashasti Singh

India to hire Deloitte, SBI caps to help LIC prepare for IPO

The coronavirus pandemic has prompted the administration to boost market borrowing as revenue slumped following a nationwide lockdown.
The government will soon invite bids seeking firms to value LIC, the people said asking not to be identified citing rules on speaking to the media.(REUTERS)
The government will soon invite bids seeking firms to value LIC, the people said asking not to be identified citing rules on speaking to the media.(REUTERS)
Published on Aug 22, 2020 09:59 AM IST
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Bloomberg | ByBloomberg| Posted by Susmita Pakrasi

LIC clocks a sharp 40% jump in premium incomes

Given continuing curbs, LIC has shifted focus to fewer but bigger policies, which are being sold at 50% higher size than in the last fiscal year, managing director Vipin Anand said.
LIC witnessed negative growth in new business in the first quarter .(Hemant Mishra/Mint Photo)
LIC witnessed negative growth in new business in the first quarter .(Hemant Mishra/Mint Photo)
Updated on Aug 19, 2020 07:09 AM IST
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Mint, Mumbai | ByAnirudh Laskar

LIC’s gross bad loan ratio soars 200 bps

The government is likely to divest up to 10% stake in LIC to meet its divestment target and compensate for the widening fiscal deficit.
According to the latest data issued by LIC, the state-run insurer’s gross non-performing asset (NPA) ratio in its debt portfolio jumped to 8.17% at the end of March 2020 from 6.15% in fiscal 2019(Hemant Mishra/Mint file photo)
According to the latest data issued by LIC, the state-run insurer’s gross non-performing asset (NPA) ratio in its debt portfolio jumped to 8.17% at the end of March 2020 from 6.15% in fiscal 2019(Hemant Mishra/Mint file photo)
Published on Aug 07, 2020 07:22 AM IST
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Livemint, Mumbai | ByAnirudh Laskar

LIC’s new business premium reports 25% growth for FY 2020

LIC building in Mumbai(Mint File Photo)
LIC building in Mumbai(Mint File Photo)
Updated on Aug 06, 2020 03:30 PM IST
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Hindustan Times, New Delhi | Byhindustantimes.com

LIC may cut its equity investment target to 30K-crore

LIC invested around 47,000 crore in stocks in the year to March, a 21% decline from the previous fiscal year, according to official data.
LIC invested around ₹47,000 crore in stocks in the year to March, a 21% decline from the previous fiscal year, according to official data.-Picture-credit-Wikipedia
LIC invested around ₹47,000 crore in stocks in the year to March, a 21% decline from the previous fiscal year, according to official data.-Picture-credit-Wikipedia
Published on Jun 04, 2020 05:28 AM IST
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Hindustan Times, Mumbai | ByAnirudh Laskar

RIL rights issue subscribed 1.6x on final day

RIL’s rights issue, its first-ever in nearly three decades, is the largest such share sale in the history of Indian equity markets.
According to stock exchange data, the rights priced at ₹1,257 per share received bids for 551.30 million shares on BSE and 120.29 million shares on NSE. (Reuters File Photo)
According to stock exchange data, the rights priced at ₹1,257 per share received bids for 551.30 million shares on BSE and 120.29 million shares on NSE. (Reuters File Photo)
Published on Jun 04, 2020 05:03 AM IST
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Hindustan Times, Mumbai | ByNasrin Sultana

Depressed over wife’s death, LIC agent kills son before committing suicide in Kanpur

Preliminary probe suggests that the man was upset over his wife’s sudden demise last month, the circle officer said.
The deceased first hanged his son and then hanged himself from the ceiling hook at his house .(Getty Images/iStockphoto)
The deceased first hanged his son and then hanged himself from the ceiling hook at his house .(Getty Images/iStockphoto)
Published on Apr 16, 2020 03:42 PM IST
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Kanpur | ByPress Trust of India

LIC steps up response to combat the impact of Covid-19

LIC of India has assured its policyholders that the Death claims arising due to COVID-19 shall be treated at par with other causes of death and payments shall be made on an urgent basis.
During the previous financial year, LIC has settled more than 7.5 lakh death claims with only 0.75 % of the total death claims reported remaining outstanding.(File Photo)
During the previous financial year, LIC has settled more than 7.5 lakh death claims with only 0.75 % of the total death claims reported remaining outstanding.(File Photo)
Updated on Apr 11, 2020 08:21 PM IST
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Hindustan Times, New Delhi | ByHT Correspondent

Covid-19 update: LIC announces 30-day extension for premiums due in March, April

LIC’s policyholders can pay premiums through LIC’s digital payment options without any service charge. It also informed that policyholders do not need to register on the website for paying premium but can directly pay by giving basic details.
Premiums can also be paid by downloading mobile app LIC Pay Direct.(Reuters File Photo)
Premiums can also be paid by downloading mobile app LIC Pay Direct.(Reuters File Photo)
Updated on Apr 11, 2020 06:53 PM IST
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Mumbai | ByPress Trust of India

LIC declares relaxation for premium payments amid coronavirus crisis

“In view of prevailing extraordinary circumstances in the country on account of Covid-19, LIC will give relaxation to its policyholders in payment of premiums due on inforce policies up to April 15, 2020, wherever customers are unable to deposit online or otherwise,” the life insurer said in a statement.       
File photo of the Life Insurance Corporation of India (LIC)'s logo.(Wikipedia)
File photo of the Life Insurance Corporation of India (LIC)'s logo.(Wikipedia)
Updated on Mar 22, 2020 06:35 PM IST
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Mumbai | ByPress Trust of India

LIC admit card for AAO and other posts expected to be out on this date

LIC will be conducting the online preliminary examination on April 4, 2020, at various centres spread across the country.
LIC admit card. (HT file)
LIC admit card. (HT file)
Published on Mar 18, 2020 05:48 PM IST
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Hindustan Times, New Delhi | ByAkhilesh Nagari

LIC Recruitment 2020: 218 vacancies of Assistant Engineers, and Assistant Administrative Officers on offer

The recruitment drive is being conducted to fill 218 vacancies of Assistant Engineers, and Assistant Administrative Officers (Specialist) at LIC India.
LIC Recruitment 2020. (Screengrab)
LIC Recruitment 2020. (Screengrab)
Published on Mar 08, 2020 02:51 PM IST
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Hindustan Times, New Delhi | ByAkhilesh Nagari

Hyderabad techie kills wife, 2 kids, commits suicide: Cops

The police said the techie, who belonged to Neredukommu village of Nalgonda district, had administered poison to his wife and children first and after ensuring that they had died, consumed the same poison to commit suicide.
The techie left a suicide note in his diary addressed to his father, in which he had written that he was afraid that he would not be able to clear his debts.(FILE PHOTO.)
The techie left a suicide note in his diary addressed to his father, in which he had written that he was afraid that he would not be able to clear his debts.(FILE PHOTO.)
Updated on Mar 02, 2020 05:35 PM IST
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Hindustan Times, Hyderabad | BySrinivasa Rao Apparasu

LIC, IDBI Bank deny reports of merger between LIC Housing Finance and the bank

Reacting to the news, shares of LIC Housing Finance on the BSE tanked and closed at Rs 379.85 on Monday, down 7.81% from its previous close.
LIC had completed acquiring a 51% stake in IDBI Bank, after it was approved by the Union cabinet in August 2018.(Photo: Mint)
LIC had completed acquiring a 51% stake in IDBI Bank, after it was approved by the Union cabinet in August 2018.(Photo: Mint)
Updated on Feb 17, 2020 10:53 PM IST
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Livemint, New Delhi/Mumbai | ByShayan Ghosh

Plan your retirement with National Pension Scheme

NPS is a market-linked annuity product wherein you invest a particular sum periodically during your working life and collect an annuity during your retirement.
NPS has a two-tier structure—a pension account that gives tax benefits and is mandatory to open for NPS and an optional account with withdrawal flexibility.(iStock)
NPS has a two-tier structure—a pension account that gives tax benefits and is mandatory to open for NPS and an optional account with withdrawal flexibility.(iStock)
Updated on Feb 17, 2020 06:29 PM IST
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LIC’s investments in equities down 21% to Rs 46,850 crore in April-January

DIIs were net buyers of equities worth Rs 86,605.25 crore in the first 10 months of FY19, while the Sensex climbed 10%.LIC‘s profit from the investments in equities in the period increased 42.36% from Rs 16,348.81 crore in the year-ago to Rs 23,273.85 crore
So far in FY20, LIC has paid 14.3 million maturity claims amounting to Rs 69,748 crore.(Mint Archives)
So far in FY20, LIC has paid 14.3 million maturity claims amounting to Rs 69,748 crore.(Mint Archives)
Updated on Feb 08, 2020 04:04 PM IST
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Livemint, New Delhi | ByNasrin Sultana

Budget 2020: State-owned LIC all set to go public

In her budget speech, Nirmala Sitharaman proposed that the government will also sell its stake in IDBI Bank to private investors and amend the Banking Regulation Act to strengthen cooperative banks.
At even 25%-30% of its assets under management, LIC can be valued at around ₹8-10 lakh crore, analysts said.(reuters file)
At even 25%-30% of its assets under management, LIC can be valued at around ₹8-10 lakh crore, analysts said.(reuters file)
Updated on Feb 02, 2020 06:49 AM IST
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Hindustan Times, New Delhi | ByHT Correspondent

Budget 2020: Govt to sell a part of its holding in LIC via IPO, says Nirmala Sitharaman

The finance minister made the announcement during her Union Budget speech but she did not specify any further details.
Finance Minister Nirmala Sitharaman presents the Union Budget 2020-21 at the Parliament, in New Delhi on Saturday.(ANI)
Finance Minister Nirmala Sitharaman presents the Union Budget 2020-21 at the Parliament, in New Delhi on Saturday.(ANI)
Updated on Feb 01, 2020 01:37 PM IST
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Hindustan Times, New Delhi | ByHT Correspondent

LIC Assistant Mains Result 2019 declared, here’s how to check merit list

LIC Assistant Main Result 2019 : Life Insurance Corporation (LIC) has declared the assistant main exam results 2019. Candidates who had appeared for the LIC main exam 2019 can check their results online at licindia.in.
LIC Assistant Main Result 2019(LIC)
LIC Assistant Main Result 2019(LIC)
Updated on Jan 17, 2020 10:03 AM IST
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Hindustan Times, New Delhi | ByNandini

LIC HFL admit card for Assistant Manager- Legal prelims exam released

LIC HFL admit card released.The preliminary exam will be conducted on January 27, 2020. The recruitment drive is conducted to hire 35 assistant manager - legal.
LIC HFL admit card out(HT file)
LIC HFL admit card out(HT file)
Updated on Jan 04, 2020 09:22 AM IST
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Hindustan Times, New Delhi | ByNandini

LIC Assistant Mains admit card released for re- exam in Agra centre

Life Insurance Corporation (LIC) has released the admit card for assistant mains re-exam to be held in Agra centre. LIC re-exam will be held on December 29.
LIC Assistant Mains admit card out(LIC)
LIC Assistant Mains admit card out(LIC)
Updated on Dec 26, 2019 11:06 AM IST
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Hindustan Times, New Delhi | ByNandini

LIC Assistant Mains exam 2019 analysis: Know expected cutoff

The online examination comprised separate set of question papers for Part A and B states and Part C states. In both the papers, candidates had to answer a total of 200 multiple choice questions in 2 hours and 30 minutes.
Majority of the candidates called the Life Insurance Corporation Assistant Mains Exam 2019 ‘moderate’. (Representational image)(HT file)
Majority of the candidates called the Life Insurance Corporation Assistant Mains Exam 2019 ‘moderate’. (Representational image)(HT file)
Updated on Dec 23, 2019 12:20 PM IST
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Hindustan Times, New Delhi | ByHT Correspondent

LIC HFL final result for assistant manager declared, check final merit list here

Life Insurance Corporation- Housing Finance Limited (LIC- HFL) has declared the final result for assistants, associates and assistant manager recruitment 2019. Here’s the direct link to download final merit list.
LIC HFL final result(LIC)
LIC HFL final result(LIC)
Published on Dec 18, 2019 04:16 PM IST
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Hindustan Times, New Delhi | ByNandini

Govt’s 25,000-crore fund for real estate projects gets 400 applications so far: Report

Around 400 applications have already been filed for funds to be granted under alternative investment fund and the first round of disbursements may take place as early as this month itself. Read on to know more...
Minister of Finance Nirmala Sitharaman on November 6, 2019 had announced that the Cabinet had cleared a proposal to set up an AIF.(HT file)
Minister of Finance Nirmala Sitharaman on November 6, 2019 had announced that the Cabinet had cleared a proposal to set up an AIF.(HT file)
Updated on Dec 17, 2019 04:59 PM IST
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Hindustan Times, New Delhi | ByHT Correspondent
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