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  • LIC invested Rs 40,000 crore in equities in FY17 May 16, 2017 08:12 PM IST

    LIC invested Rs 40,000 crore in equities in FY17

    LIC Chairman VK Sharma said that the company will adhere to the norm of having 20 percent of total investable corpus under equities.

  • Irdai asks LIC to trim holdings in companies to 15% or below Apr 30, 2017 04:00 PM IST

    Irdai asks LIC to trim holdings in companies to 15% or below

    Regulator Irdai has asked the life insurance behemoth LIC to prepare a roadmap to pare its stake to 15 per cent in firms where it breaches this ceiling

  • LIC's investment in ITC makes govt party to tobacco promotion: PIL Apr 27, 2017 06:22 PM IST

    LIC's investment in ITC makes govt party to tobacco promotion: PIL

    The World Health Organization tobacco treaty bars the government from investing in tobacco companies, alleges the petition.

  • LIC launches two Aadhaar based policies Apr 24, 2017 05:31 PM IST

    LIC launches two Aadhaar based policies

    Life insurance behemoth LIC has introduced two endowment assurance plans for individuals having Aadhaar card.

  • Group single premia boost life insurers' income by 26% in FY17 Apr 23, 2017 04:58 PM IST

    Group single premia boost life insurers' income by 26% in FY17

  • New life insurance premium grows 26% to Rs 1.75 lk cr in FY17 Apr 23, 2017 04:57 PM IST

    New life insurance premium grows 26% to Rs 1.75 lk cr in FY17

    Insurance companies had collected Rs 1,38,657.31 crore in 2015-16, according to data from the Insurance Regulatory and Development Authority of India (Irdai).

  • India Post Payments Bank to start selling MF, insurance products by March 2018 Apr 23, 2017 11:07 AM IST

    India Post Payments Bank to start selling MF, insurance products by March 2018

    As per RBI norms, Payments banks have to focus on providing basic financial services, including social security and utility bill payments, remittance functions, and can mobilise deposits of up to Rs 1 lakh.

  • LIC may not trim stake in legacy investments below 15% as no word has come from IRDAI Apr 21, 2017 04:27 PM IST

    LIC may not trim stake in legacy investments below 15% as no word has come from IRDAI

    The regulator allows insurers to hold only up to 15 percent stake in one company. Earlier this year, the government divested 2 percent of its stake held in ITC held through the Specified Undertaking of the Unit Trust of India (SUUTI). LIC bought this 2 percent taking its overall shareholding to 16.32 percent.

  • LIC posts 27% growth in first year premium in FY17 Apr 20, 2017 08:36 AM IST

    LIC posts 27% growth in first year premium in FY17

    Total FYP rose to Rs 1,24,396.27 crore in FY17 from Rs 97,777.47 crore in the previous year. It resulted in the insurance giant increasing its market share to 71.07 per cent from the last year's 70.61 per cent, the state-run corporation said in a statement.

  • Will LIC have to review its investment in ITC? Apr 15, 2017 02:01 PM IST

    Will LIC have to review its investment in ITC?

    The PIL names the government, state-run insurers, including LIC, and the insurance regulator, and says that the investment is contradictory to government’s measures to tackle tobacco-related problems.

  • LIC's new premia growth jumps 26% to Rs 1.2 trillion in FY17 Apr 13, 2017 09:00 AM IST

    LIC's new premia growth jumps 26% to Rs 1.2 trillion in FY17

    Total new business premium, including pension and group business, rose to Rs 1.22 trillion in FY17, a growth of 25.8 per cent from around Rs 97,000 crore a year ago, a senior LIC official told PTI here.

  • Two new MDs take charge at LIC Apr 11, 2017 08:29 PM IST

    Two new MDs take charge at LIC

    Both the new managing directors of LIC - B Venugopal and Sunita Sharma, whose appointments were cleared by government yesterday, assumed charge today.

  • ED summons Himachal CM Virbhadra Singh in money laundering case Apr 10, 2017 12:30 PM IST

    ED summons Himachal CM Virbhadra Singh in money laundering case

    The Enforcement Directorate (ED) action comes close on the heels of the CBI filing a charge sheet against him and his wife and others for allegedly amassing assets worth around Rs 10 crore disproportionate to their known sources of income.

  • Rosneft-led deal to buy India's Essar delayed until April Mar 31, 2017 09:17 PM IST

    Rosneft-led deal to buy India's Essar delayed until April

    The purchase of Indian refiner Essar Oil by a consortium led by Russian oil company Rosneft has been delayed by a few weeks, the two sides said on Friday, because some Indian lenders to Essar have yet to sign off on the deal.

  • Bank of India to raise Rs 204 cr by issuing shares to LIC Mar 31, 2017 08:18 AM IST

    Bank of India to raise Rs 204 cr by issuing shares to LIC

    The shareholders at the extra ordinary general meeting held today approved to allotment of 1.75 crore shares on preference basis to LIC at Rs 116.81 per share, the bank said in an exchange filing.

  • Vedanta announces Rs 6,580 cr dividend payout Mar 30, 2017 01:23 PM IST

    Vedanta announces Rs 6,580 cr dividend payout

    Both the companies had announced this week that they have received all regulatory approvals for their merger, except the Reserve Bank of India's nod for issue of redeemable preference shares to non resident shareholders of Cairn.

  • EXCLUSIVE: LIC agrees to invest Rs 1,000 cr in UCO Bank tier-II bonds Mar 30, 2017 11:20 AM IST

    EXCLUSIVE: LIC agrees to invest Rs 1,000 cr in UCO Bank tier-II bonds

  • Filing income tax return simplified further; e-filing to start from April Mar 30, 2017 08:55 AM IST

    Filing income tax return simplified further; e-filing to start from April

    Individuals with salary and interest income will have to fill fewer columns as some of these for claiming income deductions have been clubbed in ITR1 form called 'Sahaj'.

  • UCO Bank to raise Rs 1,000 cr by issuing bonds to LIC Mar 29, 2017 10:14 PM IST

    UCO Bank to raise Rs 1,000 cr by issuing bonds to LIC

    UCO Bank today announced its board has approved raising Rs 1,000 crore through issuance of tier 2 bonds to LIC.

  • CPSE ETF oversubscribed 3.7 times, gets bids worth Rs 9,700 crore Mar 17, 2017 10:08 PM IST

    CPSE ETF oversubscribed 3.7 times, gets bids worth Rs 9,700 crore

    The third tranche of the government's exchange traded fund (ETF) of top 10 state-owned companies saw bids worth Rs 9,200 crore from investors, which is 3.7 times the amount sought to be raised.

  • Soon, an online account will become mandatory for storing your insurance policies Mar 17, 2017 12:23 PM IST

    Soon, an online account will become mandatory for storing your insurance policies

    The regulator is rolling out a road-map for the insurance sector to have a smooth transition of policies from physical to digital format.

  • UCO Bank requests LIC again to invest Rs 1K cr in tier-2 bonds, but insurer seen unwilling Mar 17, 2017 11:17 AM IST

    UCO Bank requests LIC again to invest Rs 1K cr in tier-2 bonds, but insurer seen unwilling

    The insurer may not be keen to comply as it feels size of investment is too huge. It has reservations about the paper’s rating, too.

  • If you're planning to buy life insurance, should you opt for single premium cover? Mar 16, 2017 12:14 PM IST

    If you're planning to buy life insurance, should you opt for single premium cover?

    Single premium policies offer lower premium rates compared to regular payment policies and also provide higher death benefits. However, tax benefit on these plans will be applicable only for the year in which you make the one-time payment.

  • First year premium growth of life insurers rebounded in FY16 Mar 08, 2017 09:20 AM IST

    First year premium growth of life insurers rebounded in FY16

    The industry as a whole comprising 23 private firms and one state-owned company LIC netted over Rs 1.38 lakh crore in form of new policies.

  • IDBI Bank acquires 32.30 cr shares in JPVL Mar 02, 2017 01:40 PM IST

    IDBI Bank acquires 32.30 cr shares in JPVL

    IDBI Bank has acquired 32,30,00,000 shares from Jaiprakash Power Ventures in consideration of conversion of debt into equity under strategic debt restructuring, the company said in a BSE filing.

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