Life Insurance Corporation of India (LIC) is in the advanced stages of discussions to enter the health insurance market, with a decision expected by March 31, 2025 said CEO Siddhartha Mohanty.
The move aligns with the insurer's strategy to diversify its product offerings and expand its presence in the broader insurance space, he said while speaking to Moneycontrol on the sidelines at the Global Conference of Actuaries event.
Discussions are at the final stage, and we are hopeful that a decision will be taken before March 31, he said.
While he remained tightlipped on the exact stake or the company LIC plans to acquire, he clarified that the corporation would not hold a controlling stake.
The exact shareholding will depend on the valuation and other factors, he added.
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