The scheme encourages retail investors to participate in capital markets.
LIC is one of the largest Indian shareholders in the country's largest car maker, with a 6.93% stake.
'At the policy's maturity, the total premium is refunded.'
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
Its lenders, who hold around 23 per cent of the debt-laden airline, have asked the promoters to bring in equity before they lend more.
At a time Life Insurance Corporation (LIC) is under the scanner due to the alleged bribe-for-loan scam at its housing finance arm, the mutual fund company of the corporation has been continuously losing business. Its assets have dipped substantially this year. As the mutual fund industry faces redemption pressure, LIC Mutual Fund, a state-owned fund house, has performed worse than the industry so far in the current financial year.
The government hopes to use this data to assess the extent of financial support needed to recover from the pandemic.
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.
LIC will be subscribing bonds worth Rs 30,000 crore.
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.
State-run insurer LIC and private fund house Franklin Templeton have hiked their stake in Mukesh Ambani-led Reliance Industries by collectively buying about 23 lakh shares, currently worth an estimated Rs 200 crore (Rs 2 billion).
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.
According to a presentation by LIC to Parliament standing committee on finance, total investment at the end of March 31, 2012 was Rs 13.49 lakh crore or Rs 13.49 trillion.
State-run life insurance major LIC on Thursday said it will invest Rs 1 lakh crore (Rs 1 trillion) in the equity market in the current fiscal, up from Rs 35,000 crore (Rs 350 billion) during 2008-09.
"We have written to all the companies in which we have nominee-directors, asking them not to give Esops," said LIC managing director D K Mehrotra. He said there were more than 100 companies in which LIC had nominee-directors.
The unclaimed funds within the life insurance sector are higher from policies sold by agents as against other channels like bancassurance or a digital platform, said analysts and officials from insurance companies. Unclaimed life insurance funds refer to the proceeds of insurance policies including death or survival benefits not claimed by the beneficiary or the policyholder. Bancassurance means selling an insurance product through banks.
During the first quarter ended June, 2014-15 fiscal, LIC earned a total premium of Rs 14,016 crore.
Life Insurance Corporation of India lost more than 8 per cent market share after posting a marginal 1.93 per cent growth in business last fiscal, while private players grew by more than 153 per cent during 2003-04.
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.
The Bombay high court has ruled that LIC has to honour claims made by lenders, that is banks, non-banking finance companies and financial institutions, if an LIC policyholder defaults in repaying the loan to the lender.
Life Insurance Corporation scotched speculation of setting up or acquiring a bank on Wednesday but said it plans to enter credit cards business and manage pension funds.
These mutual funds from LIC have been steady performers since the last 5 years
Life Insurance Corporation on Friday launched two schemes -- a money-back children's plan 'Jeevan Anurag' and pension with endowment plan 'Jeevan Nidhi.'
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
LIC has proposed a consolidation of its real estate portfolio and is inviting bids from consultancy organisations.
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.
