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Coronavirus pandemic burns Rs 1.9 trillion hole in LIC's investments
Posted on 19th March 2020 |
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A 30 per cent drop in the S&P BSE Sensex and the Nifty 50 thus far in the calendar year 2020 (CY20) has weighed heavily on the fortunes of state-owned life insurer, Life Insurance Corporation of India (LIC), which has suffered a notional loss of about Rs 1.9 trillion in the past two-and-half months. The insurer, known for making large equity investments, has substantial holdings in many listed companies. The dent comes at a time when the government is drawing up plans of listing LIC at the bourses, subject to legislative changes and regulatory approvals. |
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LIC beats private firms in premiums
Posted on 16th October 2019 |
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State-run insurer Life Insurance Corporation of India (LIC) has registered a 41.74% growth in first-year premium collection for the April-September period of the current financial year, outperforming the combined growth rate of all private sector life insurance players put together. |
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Sebi partially freezes LIC's voting rights in National Stock Exchange
Posted on 20th September 2019 |
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Life Insurance Corporation of India's (LIC) acquisition of IDBI Bank has led to unintended consequences. The market regulator Securities and Exchange Board of India (Sebi) has partially frozen LIC’s voting rights in the National Stock Exchange (NSE). The reason being the 5-per cent shareholding cap on trading members. While LIC is not a trading member, following its acquisition of IDBI Bank — a trading member of NSE — it is deemed as one. |
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LIC Assistant Recruitment 2019: 8000 posts at licindia.in, Oct 1 last date
Posted on 18th September 2019 |
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LIC recruitment 2019: The Life Insurance Corporation (LIC) of India has released the recruitment notification for 8,000 posts of LIC assistants on its official website licindia.in. LIC has invited onlineThe selection process will be based on two computer-based tests (CBT) after which they will undergo a pre-recruitment medical examination. Candidates should apply for one LIC division only as multiple applications can be rejected. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Opinion | Clarify LIC’s mandate
Posted on 3rd September 2019 |
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Life Insurance Corporation of India is investing another ₹4,700 crore in IDBI Bank. This will be in addition to the ₹20,000 crore that the country’s largest insurer earlier injected as part of a deal to acquire a 51% stake. IDBI would also get ₹4,557 crore from the government. With bad loans hovering at more than 29%, the bank is among the best suited candidates for capital infusion. But calling upon LIC to do so isn’t the right way to go about it. |
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LIC beats private insurance firms; grows new premium at double the pace of competition
Posted on 14th August 2019 |
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Life Insurance Corp of India has beaten all private-sector competitors by a wide margin, growing its first-year premium collections at double the pace of private life insurers so far this financial year, the data showed. State-run LIC’s new premium growth at 52%, on top of an already very high base, was almost double of all the private players’ growth of 27% during April-July 2019. Further, at Rs 60,106 crore in first-year premium collections, LIC captured almost three-quarters of the new market share, vis-a-vis all private companies, which together collected Rs 22,039 crore. |
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Supreme Court junks PIL against LIC
Posted on 16th July 2019 |
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The Supreme Court on Monday refused to entertain a public interest litigation (PIL) that sought to drag the country's biggest insurer – Life Insurance Corporation (LIC) into the dock for allegedly selling five crore policies of Jeevan Saral under a false promise of higher returns. |
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LIC profits from investments double in Q4
Posted on 28th June 2019 |
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Mumbai: A surging stock market has helped public sector behemoth Life Insurance Corporation of India (LIC) to register a 104 per cent growth in the profit made on its investments. For the quarter ended March 31, 2019, LIC's profit on sale of investments grew to Rs 1,4931 crore against a profit of Rs 7,330 crore in the same quarter a year ago. |
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LIC trims stake in Asian Paints by 2%
Posted on 25th June 2019 |
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NEW DELHI: State-owned LIC has sold over 1.92 crore shares, representing about 2 per cent stake of Asian Paints, through open market transaction. With the sale of these shares, stake of LIC (Life Insurance Corporation of India) in Asian Paints has now come down to 3% from 5% earlier, as per a regulatory filing by the insurer. |
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