The Life Insurance Corporation of India has opened a branch in Muscat to cater to over 300,000 non-resident Indians in Oman.
India's biggest life insurer and financial institution has turned to its 'turnaround man' to restore credibility to prime subsidiary LIC Housing Finance (LICHF). Vijay Kumar Sharma, 52, formally took over as its CEO on Wednesday. Sharma comes from Chennai, where over the past one year he turned LIC's south zone into the best performer after a 20-month slowdown.
'It is not his doing, but Rahul Gandhi is forced by circumstances.' 'In taking political decisions, everything has to get his clearance.'
Analysts say strengthening bank's capital will boost earnings, bank needs chief with long stint to run show
Fixed deposits can fetch 9-9.5% interest versus 3.5% to be received by Cairn, say institutions.
Roy joined the largest insurance company in the country in 1981.
The Life Insurance Corporation of India has sold more than 15.46 mn individual policies during the current financial year with a collection of more than Rs 68,254.3 million (Rs 6825. 43 crore), posting a growth rate of more than 35 per cent as on Feb
Insurer likely to support Ratan Tata; reduction in stake might have been profit booking.
The rider could be attached to any of the existing group insurance polices under employer-employee groups -- group insurance, employees deposit link insurance, group gratuity and group leave encashment scheme -- on their scheme renewal date, LIC of India Chairman T S Vijayan told reporters at the launch function in Chennai.
According to data from company sources, the Life Insurance Corporation of India (LIC) still remains the benchmark when it comes to settling death claims. However, major private players are also fast catching up.
Offloads stake in financial, auto and pharma sector companies.
We are, therefore, setting up more branches in more tertiary terms, like tier 2 and tier 3 terms. Going forward, that is where the growth will come.
'At the policy's maturity, the total premium is refunded.'
Mutual funds (MFs) are likely to surpass foreign portfolio investors (FPIs) in terms of anchor investments in initial public offerings (IPOs) for the second consecutive year. In calendar year 2023 so far, MFs have invested Rs 5,577 crore as anchor investors, compared to the Rs 5,417 crore invested by FPIs this year. In 2022, MFs put in Rs 9,026 crore as anchor investment, 21 per cent higher than the FPI tally of Rs 7,105 crore. This marked the first time since 2014 that MFs had outpaced FPIs in anchor investments.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
Booking profit in the recent stock market uptrend, state-run insurance giant LIC offloaded shares worth over $1 billion in half of the 30 Sensex companies, including in RIL and ICICI Bank, in last quarter.
Booking profit in the recent stock market uptrend, state-run insurance giant LIC offloaded shares worth over $1 billion in half of the 30 Sensex companies, including in RIL and ICICI Bank, in last quarter.
In ITC, LIC has invested Rs 38,358.66 crore, according to Capitaline data.
Insurer seeks leeway to invest in sub-AAA-rated companies.
Reserve Bank of India on Thursday said 15 large NBFCs, including LIC Housing Finance, Bajaj Finance, Shriram Finance and Tata Sons, will be subject to enhanced regulatory requirements. The central bank has categorised NBFCs into Base Layer (NBFC-BL), Middle Layer (NBFC-ML), Upper Layer (NBFC-UL) and Top Layer (NBFC-TL). A list of 15 large Non Banking Finance Companies (NBFCs) falling in the Upper Layer category has been released.
Chairman says turnaround has begun in sector expects 10% growth in firm's core business this year.
India's largest life insurer, Life Insurance Corporation of India (LIC), has crossed the mark of 1-crore individual policies for the current financial year, with first premium income of Rs 15,917-crore (Rs 159.17 billion) in the fortnight ended August 14, 2010.
The buyout will cost LIC about Rs 100 billion, based on the Rs 248 billion market capitalisation of IDBI Bank as on Friday, and assuming it acquires a 40 per cent equity stake from the government.
P V Subramanyam clears some misconceptions about debt funds.
State-run insurance giant LIC and the government of Singapore have hiked their stakes in Reliance Industries with the purchase of shares worth over Rs 1,550 crore during the last quarter.
'Somebody was using somebody to make statements that will stir the stock market and lead to a surge.' 'A sudden surge and a sudden crash is always an ideal situation for people to make illicit gains and then siphoning off the money.'
LIC accounts for 70 per cent of the life insurance market and is also the largest domestic institutional investor in the country.
LIC will kickstart its credit card business in September 2008.
Life Insurance Corporation of India has asked the Insurance Regulatory & Development Authority to allow it a shareholding of up to 20 per cent in a company.
Life Insurance Corporation plans to forge a joint venture for foraying into Australia and New Zealand markets.
Life Insurance Corporation of India, the country largest insurer, is in talks with the government to modify its investment norms to diversify the risk.
Stock markets will be driven by quarterly earnings by index majors, global trends and the RBI's interest rate decision this week after digesting news on budget proposals and US Federal policy outcome, say analysts. The trading activity of foreign investors and the movement of global oil benchmark Brent crude would also dictate trends in equities. "On the domestic front, the MPC (Monetary Policy Committee) meeting is scheduled from February 6-8.
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