Revision in the context of an ongoing global review affecting financial institutions: Moody's
Chairman of insurance giant says it has invested Rs 16,000 cr in equity till Oct.
The government sold 63.16 crore shares or 10 per cent stake in Coal India through an offer for sale (OFS) on January 30.
The SEBI and the RBI will look into it. Let their reports come in, BJP MP Mahesh Jethmalani said.
Conceding the long-pending demand from around 11 lakh agents, the Life Insurance Corporation of India (LIC) has revised the gratuity payable to agents to Rs 2 lakh from Rs 1 lakh earlier. The revised rates will be applicable retrospectively from April 1, 2007.
The insurance company has formed a four-member committee headed by LIC chairman TS Vijayan to decide the valuation of LIC Mutual Fund.
LIC's product will be a hospital cash product (that is for major listed surgeries and procedures, LIC will pay the insured a predetermined lump sum amount, depending on his premium payment). LIC's product will also be a long-term product of over 10 years. For claim payouts, the public sector behemoth has tied by with Axis Bank, Syndicate Bank and Bank of America.
A major section of Life Insurance Corporation employees went on strike on Thursday to press for higher pay package even as the country's largest insurer kept its offices open.
This is a good opportunity for long-term investors to pick quality small and midcap stocks at reasonable valuations.
Endowment Plus is a unit-linked product that offers investment-cum-insurance during the term of the policy.
Union Finance minister P Chidambaram on Tuesday announced enhancement of bonus for policy holders of the Life Insurance Corporation of India.
Life Insurance Corporation (LIC) of India, which is conducting an internal probe into the bribe-for-loan scam that surfaced at LIC Housing Finance (LICHF) in November, has not detected any aberration as yet.
The strategic sale of government and state-owned Life Insurance Corporation (LIC) of India stakes in IDBI Bank might encounter procedural delays, potentially pushing the timeline for expected financial bids to the third quarter of the current financial year (2023-24, or FY24), according to sources familiar with the development. Financial bids constitute the second significant step in the divestment process, following expressions of interest (EoIs) from potential bidders. In this phase, bidders are required to quote transactional fee as a percentage of the divestment proceeds, which are then added to the government's kitty after completion of the transaction.
In his poll rallies, Modi framed Pitroda's comments in his wider onslaught against the Congress, asserting that they have exposed its hidden agenda and that the party has become so removed from the country's social and family values that it wants to legally rob people of their assets and lifelong savings they want to bequeath to their children.
The IL&FS management is also talking to its second-largest shareholder, Orix Corporation of Japan, to infuse more funds into the company - in case any shareholder backs out during the rights issue.
LIC is one of the largest Indian shareholders in the country's largest car maker, with a 6.93% stake.
Life insurers in India registered a 22 per cent growth, collecting Rs 9,713 crore (Rs 97.13 billion) in premium income from new business till December, with private players gaining more ground from LIC.
"We may rope in a consultant for our proposed foray into banking business, if that is required. This will happen after the final guidelines on banking license is out by the Reserve Bank of India (RBI)," Director and Chief Executive of LIC Housing Finance, V K Sharma said.
Life Insurance Corporation of India has said the Insurance Regulatory and Development Authority's requirement that extra 50 per cent solvency margins above regulatory norms be maintained was unfair and unwarranted.
After lying low since its foray into the credit card business two years ago, Life Insurance Corporation (LIC) of India on Monday announced a tie-up with Axis Bank to offer co-branded credit cards to its policyholders and employees.
LIC employees plan to observe a two-hour walk-out strike on August 4 to protest against the LIC (Amendment) Bill, 2009, introduced by the finance minister in the Lok Sabha on Friday, a senior office-bearer of an employees association said. The Bill says that the minimum capital of LIC would be increased from the present Rs 5-crore (Rs 50-million) to Rs 100-crore (Rs 1 billion).
Life Insurance Corporation of India has hiked its stake in Anil Ambani Group company Reliance Communications to 7.02 per cent after buying fresh shares worth Rs 1,274.4 crore through an open market transaction.
The government hopes to use this data to assess the extent of financial support needed to recover from the pandemic.
Life Insurance Corporation of India and DaimlerChrysler, one of the oldest partners of Tata Motors, may refrain from participating in the ongoing Rs 4,145-crore (Rs 41.45 billion) rights issue that is closing on October 20, investment banking sources said. The move comes after Life Insurance Corporation of India expressed its wariness in putting in its bid.
The 2019 list shows a 37 per cent jump in brand value for the Tata group, to $19.55 billion for 2019, the highest in the top 25.
The total assets of the Life Insurance Corporation of India (LIC) have grown to about Rs 500,000 crore (Rs 5 trillion) from Rs 381.90 crore (Rs 3.819 billion) five decades ago at the time of nationalisation, a senior official said in Coimbatore.\n\n
CNBC-TV18 News reports that it has been able to confirm that the insurance giant is firmly backing Tata Sons. There is thus no possibility that the insurer will exit the group.
In a bid to get more returns from its properties, Life Insurance Corporation of India has identified 70 sites, spread across the country, for development of either residential or commercial projects.
Unit Trust of India and Industrial Finance Corporation of India, which together hold around 23 per cent stake in LIC Housing Finance, are likely to exit from the company even as LICHFL is exploring possibility of a public offer.
LIC has proposed a consolidation of its real estate portfolio and is inviting bids from consultancy organisations.
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