Life Insurance Corporation
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LIC IPO: Anchor investor portion oversubscribed on Day 1
•Out of the proposed Rs 21,000 crore IPO, LIC targets to raise Rs 5,630 crore through anchor investors
Government to sell 3.5% stake in LIC, IPO to fetch Rs 21,000 crore
•The government in February had planned to sell a 5 percent stake in Life Insurance Corporation (LIC). However, the ongoing market volatility due to the Russia-Ukraine war made it lower the IPO size
Centre files draft papers with market regulator SEBI for LIC IPO
•The government will sell over 31 crore equity shares of LIC, according to the draft red herring prospectus filed with SEBI
Opinion | No dearth of privatisation critics but Centre must go ahead with PSU sale in 2022
Ravi Shanker Kapoor •Just like the strategic sale of Balco in 2001, when the government sold its 51 percent equity in the aluminum major, galvanised privatisation in the country, Air India sale has the potential of accelerating the pace of disinvestment.
LIC's new premium business jumps 25.2% in FY20, records best sales in past six years; market share up 1.2%
•Despite losing the most productive fortnight of the year to COVID-induced lockdowns, the national insurer LIC achieved a healthy 25.2 percent growth in the first-year new business premium in 2019-20, while private players collectively recorded just 11.64 percent
Life insurance companies register 11.4% growth in premium income in FY20; LIC logs 22.5% decline
•India's life insurance companies clocked 11.36 percent growth in their collective premium income at Rs 48.26 lakh crore during the fiscal ended March 2020, data from IRDAI showed
LIC extends 30-day grace period to policyholders for premiums due in March and April as India crosses 9,150 cases
Trendingdesk •Life Insurance Corporation of India (LIC) has extended period of payment of premium for all policies due in the month of March and April 2020 by 30 days.
LIC IPO expected to improve accountability, transparency; encourage pvt sector insurance firms to get listed: Fitch
•The proposed initial share sale of LIC will improve the accountability and transparency of the country's largest insurer and benefit the insurance industry, Fitch Ratings said on Wednesday
No proposal to merge LIC Housing Finance with any other entity, says LIC; shares plunge over 10%
•Life Insurance Corporation on Monday said there is no proposal to merge its subsidiary LIC Housing Finance Ltd (LICHFL) with any other entity
LIC waives off charges on credit card payments to promote digital transactions; effective from 1 December
•LIC controls over 70 percent of the life insurance market