IFCI, say sources, owes nearly Rs 500 crore in debt to LIC, which has the option to convert it into equity and take its total stake from 8.4 per cent now to 49%. IFCI's proposed strategic sale has attracted expressions of interest from 10 entities.
Paperless scheme for policy documents, called dematerialisation, will enable easy storage of policies by the policy holders, the President said.
Shedding its image of a brick-and-mortar organisation, the Life Insurance Corporation of India (LIC) is all set venture into the digital era.
LIC Housing Finance on Thursday announced it will launch reverse mortgage schemes for senior citizens in a couple of months.
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.
'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.'
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
LIC is currently allowing customers to revive policies that have lapsed for more than two years.
Lapped up 157 mn shares worth Rs 4,000 crore between Jan 1 and Feb 8
If you think that revenue officials are going berserk, acting on their own, while the government chants the mantra of 'ease of doing business', you would be wrong. These moves appear to have full official backing, points out Debashis Basu.
Mop-up misses target as big FIIs skip issue.
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.
There are certain plans that you can opt for that also cover dental treatments, says rediffGURU Sanjib Jha.
The ongoing weakness in the broader equity market is likely to weigh on primary market investor participation ahead, which has already begun showing signs of fatigue, analysts said. The spillover effect, they say, will continue as long as the midcap and smallcap segments remain volatile. "The effect will be felt in the IPO market. The subscription levels have come down in the last few days and recent 4-5 IPOs have not done well.
Some called it 'sheer bad luck' for Nair, others talked of a conspiracy.
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
'One day I want to bowl the fastest ball in the world.'
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.
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.
"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."
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.
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.
This is a good opportunity for long-term investors to pick quality small and midcap stocks at reasonable valuations.
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.
The opposition leaders are expected to meet at Leader of Opposition in Rajya Sabha Mallikarjun Kharge's office in the Parliament complex around 10 am, sources said.
The Life Insurance Corporation of India will soon file a special leave petition before the Supreme Court to prevent trading in life insurance policies.
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.
