Even though the Life Insurance Corporation of India increased its market share to 74 per cent in terms of total new business premium policies in March 2007, compared with 72 per cent in March 2006, it has lost market share.
Lapped up 157 mn shares worth Rs 4,000 crore between Jan 1 and Feb 8
Life Insurance Corporation earned Rs 5,800 crore (Rs 58 billion) net profit during 2005-06 while its first premium income during the period grew by a record 48 per cent to Rs 18,085 crore (Rs 180.85 billion).\n
Mop-up misses target as big FIIs skip issue.
Adani group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group. The group has maintained it complies with all laws and disclosure requirements.
'If they are not, then the Modi government should order a JPC immediately.'
The Life Insurance Corporation has found a new set of corporate agency partners - shopping mall owners.
LIC Housing Finance on Thursday slashed interest rates for new housing loan customers, intensifying the war for cornering a major pie of the now reviving home loan market.
The country's largest insurer Life Insurance Corporation, has decided to operationalise a system within two years that will allow policy holders to claim benefits and pay premium at any of its over 2,100 branches.
Some called it 'sheer bad luck' for Nair, others talked of a conspiracy.
It was touted as a game changer but big-ticket privatisation has been a mixed bag as the government faces unanticipated challenges of lukewarm investor response, employee union agitation and legal hurdles. Prime Minister Narendra Modi's often-repeated statement 'the government has no business to be in business' guided the drawing up of an ambitious privatisation pipeline. While Air India sale succeeded, Bharat Petroleum Corporation Ltd (BPCL) divestment failed.
The Supreme Court on Wednesday agreed to hear on February 17 a fresh plea of a Congress leader seeking investigation under the supervision of a sitting apex court judge against the Adani group of companies in light of the allegations made by the US-based Hindenburg Research.
"The main point is managing this growth so as to make it sustainable. Our aim is to grow by at least 25 per cent on-year during 2011-12."
Ahead of Reserve Bank of India's 's slack season Credit and Monetary Policy, Life Insurance Corporation, one of the biggest players in the financial sector
LIC will fall in line with the other private insurers in meeting the IRDA's stringent norms on solvency margin by providing an aggregate Rs 10,000 crore (Rs 100 billion) by the end of 2003-04.
Life Insurance Corporation has sanctioned Rs 400 crore (Rs 4 billion) loan to Jet Airways for fleet acquisition, Minister of State for Finance S S Palanimanickam said on Tuesday.
The combined market valuation of three of the 10 most valued domestic firms eroded by Rs 73,630.56 crore last week, with Reliance Industries Limited taking the biggest hit. While HUL and ICICI Bank were the other laggards from the top-10 pack, TCS, HDFC Bank, Infosys, LIC, SBI, HDFC and Bharti Airtel were the gainers. However, the combined gain of the seven firms at Rs 49,441.05 crore was less than the total loss suffered by the three companies.
Gandhi has been attacking the prime minister on the Adani issue and has been demanding an investigation into the matter.
Life Insurance Corporation of India (LIC), the country's biggest insurer, said it did not participate in Tata Motors' Rs 4,145-crore rights issue as the shares continued to trade below the offer price till the last day of the subscription today. The move resulted in the issue devolving on the promoters and the underwriter, JM Financial.
Four of the 10 most valued domestic firms together added a whopping Rs 231,320.37 crore in market valuation last week, with market heavyweight Reliance Industries contributing the most to the overall gains. Last week, the Sensex jumped 884.57 points or 1.61 per cent. While TCS, Infosys and ICICI Bank were the other gainers from the top-10 pack, HDFC Bank, HUL, LIC, SBI, HDFC and Bharti Airtel faced erosion from their market valuation.
Fundraising activity in the debt market is gaining momentum ahead of the festival season. Several non-banking financial companies (NBFCs) and the National Bank for Agriculture and Rural Development (Nabard) are planning to raise at least Rs 5,560 crore in the next two days by issuing bonds, with a greenshoe size of Rs 6,370 crore. Ajay Malglunia, managing director and head of investment grade group at JM Financial, said, "The market likes certainty, the market will gain clarity after the US Federal Reserve's (Fed's) policy.
Hindenburg Research has alleged that Adani Group was "engaged in a brazen stock manipulation and accounting fraud", a charge the conglomerate described as malicious, unsubstantiated, one-sided, and having done with malafide intention to ruin its share-sale.
Barely a month before its scheduled Rs 200 crore IPO, UCO Bank on Monday signed a memorandum of understanding with the Life Insurance Corporation of India to market the latter's insurance schemes from its branches.
The Life Insurance Corporation of India will soon file a special leave petition before the Supreme Court to prevent trading in life insurance policies.
Faced with competition from private insurance companies and in an effort to branch out to new areas to provide better services to its customers, Life Insurance Corporation of India is planning to launch credit cards.
Just 14 companies raised Rs 35,456 crore through main-board primary share sales in the first half of the fiscal, down 32 per cent from the year-ago period when 25 issues had mopped up Rs 51,979 crore. But according to Prime Database, the IPO pipeline is strong with 71 issues worth Rs 1,05,000 crore having Sebi approvals and another 43 worth about Rs 70,000 crore are awaiting approval. Of these 114 planned issues, 10 are new-age tech companies, which are looking to raise roughly Rs 35,000 crore.
Life Insurance Corporation of India will further strengthen its financial position and is all set to rebound with a 20 per cent growth in premium income to over Rs 11,600 crore this fiscal, LIC chairman S B Mathur said.
Life insurers' new business premium (NBP) reported stellar performance in November after a poor showing in October, on the back of strong growth in group single premiums for both private insurers and Life Insurance Corporation (LIC) of India. In November, 24 life insurers, including LIC, reported NBP to the tune of Rs 27,177 crore, up 42 per cent year-on-year (YoY) from the year-ago period. Private insurers' NBP rose 58.63 per cent YoY to Rs 11,209.75 crore as group single premiums more than doubled during this period.
Domestic quarterly earnings, global trends and foreign fund trading activity would dictate the movement in equity markets, which may face volatility amid the scheduled monthly derivatives expiry this week, analysts said. Equity markets took a breather last week. The BSE Sensex declined 298.22 points or 0.48 per cent and the Nifty dipped 111.4 points or 0.60 per cent.
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