[ad_1] Life insurance giant LIC has requested the Reserve Bank to introduce long-term government bonds, including 100-year paper as well, a top official said on Tuesday. Siddhartha Mohanty, Managing Director and Chief Executive of LIC, said the insurer sells whole life policies, which need investments in long-term bonds. The RBI has been giving permission to […]
LIC Q3 Results: PSU insurer beats new business premium estimates, VNB margin steady – CNBC TV18
[ad_1] State-owned insurance giant, Life Insurance Corporation of India (LIC) posted a 21% year-on-year (YoY) decline in new business premium (NBP) for the third quarter of FY25 at ₹43,075 crore. Company Value Change %Change Despite the drop, this figure exceeded CNBC-TV18 estimates of ₹42,406 crore, indicating resilience in LIC’s premium collections amid market challenges. PSU […]
Budget 2025: An important change to how your ULIPs will be taxed – CNBC TV18
[ad_1] The government has removed the ₹2.5 lakh threshold for taxing unit-linked insurance policies (ULIPs). Starting from April 1, 2026, ULIP returns on premiums exceeding ₹2.5 lakh will be taxed as capital gains. Long-term gains (from policies held for more than a year) will be taxed at 12.5%. Previously, ULIPs were taxed as income from […]
Women now make up 28% of all LIC agents, says Finance Ministry – CNBC TV18
[ad_1] The Finance Ministry has highlighted the increasing participation of women in the Life Insurance Corporation of India (LIC), with the number of women agents rising from 6 lakh in 2018 to 7.45 lakh in 2023. For every 100 LIC agents, 28 are women, reflecting the growing inclusion of women in the financial services sector. […]
Govt proposes major amendment to insurance act to open up agent ties – CNBC TV18
[ad_1] To enhance competition and broaden consumer choices, the government has proposed amendments to the Insurance Act that would allow agents to partner with multiple insurers across life, general, and health insurance segments. Currently, agents are restricted to tying up with just one insurer in each category. If the proposal is approved, the Insurance Regulatory […]
‘No material event at this stage’: LIC clarifies on ManipalCigna acquisition rumours – CNBC TV18
[ad_1] State-owned insurer, Life Insurance Corporation of India (LIC) has responded to media reports regarding its potential acquisition of a 50% stake in ManipalCigna Health Insurance. The Economic Times had earlier reported that LIC was in advanced talks to acquire the stake, which could value the company at approximately ₹4,000 crore. However, LIC issued a […]
LIC increases stake in LTIMindtree to 7% in eight months at ₹4950.8 per share – CNBC TV18
[ad_1] Life Insurance Corporation of India (LIC) has raised its stake in LTIMindtree from 5.033% to 7.034% during the period between March 20 and November 19, 2024. “Holding increased from 5.033% to 7.034%, a net increase of 2.001% during the period from 20.03.2024 to 19.11.2024 at an average cost of ₹4,950.807,” LIC said on Thursday […]
LIC likely to have reduced first-year commission to 20% and bonus to 8% – CNBC TV18
[ad_1] Life Insurance Corporation of India (LIC) is likely to have reduced the first-year commission on its policies to 20% from 25% and bonus to 8% from 10%, according to sources. This means that the total first-year commission is likely to have decreased from 35% to 28%. This reduction is part of a broader strategy following […]
NSE is said to have doubled in value amid IPO hopes – CNBC TV18
[ad_1] National Stock Exchange of India Ltd.’s valuation in the private markets has doubled to $36 billion in the last four months, backed by investor expectation that an initial public offering could materialize as early as the first quarter of next year, according to people familiar with the matter. Unlisted shares in the world’s largest […]
LIC raises its stake in Biocon from 4.982% to 5.023% – CNBC TV18
[ad_1] The Life Insurance Corporation of India (LIC) has increased its shareholding in Biocon Ltd, according to an exchange filing on Tuesday, September 17. Under the updated disclosure regulations, LIC’s ownership has risen from 5,98,14,429 shares to 6,03,14,429 shares. “The Life Insurance Corporation of India (“the Corporation”) has increased its shareholding in equity shares of […]