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The Life Insurance Corporation of India (LIC) is India’s largest state-owned, public insurance and investment entity, that came into being on 1st September, 1956, after merging over 245 societies and companies in this space. With an extensive rural and urban presence, LIC singularly commands a mammoth 69 percent stake in the Indian insurance industry. The company offers a wide range of insurance plans, namely life insurance, term insurance, endowment plans, insurance riders and more. The government i.e. the Ministry of Finance currently holds about 100 percent of the entity, but there have been deliberations of selling about 10 percent of its stake in LIC, in a phased manner, through IPO (Initial Public Offer). Once listed on a public exchange, LIC will have a market capitalization of nearly Rs 8-10 crore. The extensive network of LIC agents can be estimated from the fact that as on 31st March, 2021, the company had almost 13 lakh agents, as compared to around 11 lakh agents for over 20 combined private life insurers. Currently, as per its recent annual reports, LIC has around 2,048 branches across the country, while also having presence in the mutual funds, pension funds and the housing finance space as well. More

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  • Moody's downgrades LIC, outlook stable May 14, 2012 02:56 PM IST

    Moody's downgrades LIC, outlook stable

    Moody's cut its rating for state-run Life Insurance Corp of India (LIC) two weeks after it put the country's largest portfolio investor under review for a downgrade over its high exposure to sovereign debt and lack of revenue sources outside of India.

  • LIC buys 4.68% stake in Bank of Maharashtra May 11, 2012 09:48 AM IST

    LIC buys 4.68% stake in Bank of Maharashtra

    LIC has bought 4.68% stake in Bank of Maharashtra via open market/pref issue, reports CNBC-TV18.

  • Buying online insurance policy? Remember these points May 09, 2012 02:35 PM IST

    Buying online insurance policy? Remember these points

    As per IRDA Annual Report, 2010-11 the total premium underwritten by the life insurance sector in 2010-11 was Rs 2,91,605 crore as against Rs. `2,65,447 crore in 2009-10 exhibiting a growth of 9.85%.

  • Choosing multiple insurance products? Look before you leap May 07, 2012 03:14 PM IST

    Choosing multiple insurance products? Look before you leap

    Planning for the future is a common process. Everyone wants to secure their future financially. The future needs occur in the form of children‘s higher education, their marriage, business, etc.

  • Ready to do what pleases the customer: Analjit Singh May 03, 2012 05:02 PM IST

    Ready to do what pleases the customer: Analjit Singh

    Analjit Singh

  • LIC of India buys 2.15 cr shares of Pipavav Defence May 03, 2012 12:47 PM IST

    LIC of India buys 2.15 cr shares of Pipavav Defence

    On May 02, 2011 Life Insurance Corpo. Of India Ltd bought 21,536,320 shares of Pipavav Defence and Offshore Engineering Company at Rs 79.50 on the NSE. However, Damani Manmohan bought 5,510,000 shares at Rs 79.47 and sold 5,700,000 shares at Rs 79.51 on the NSE.

  • Moody's reviews LIC for possible downgrade Apr 30, 2012 06:16 PM IST

    Moody's reviews LIC for possible downgrade

    Moody's is reviewing its rating of state-run Life Insurance Corp of India (LIC), the country's largest portfolio investor, for possible downgrade over its high exposure to sovereign debt and lack of revenue sources outside of India.

  • I-T catches LIC in sights, slaps bill of Rs 9k cr Apr 27, 2012 08:36 PM IST

    I-T catches LIC in sights, slaps bill of Rs 9k cr

    CNBC-TV18‘s Ashmit Kumar, quoting sources, reports that the taxman has slapped government-owned insurance giant LIC with a notice to pay a tax of Rs 9,000 crore

  • Standing committee to scan purchase of ONGC shares by LIC Apr 24, 2012 06:13 PM IST

    Standing committee to scan purchase of ONGC shares by LIC

    CNBC-TV18‘s Rituparno Bhuyan reports that the Parliamentary standing committee on finance has sought an investigation into the purchase of ONGC shares by public sector insurer LIC

  • Air India on revival mode, aims to wipe off losses in 6 yrs Apr 22, 2012 12:13 PM IST

    Air India on revival mode, aims to wipe off losses in 6 yrs

    Ailing Air India, which would get equity infusion of Rs 30,000 crore till 2021 as part of its turnaround plan, expects to wipe off its losses and become cash positive in the next five-six years, official sources said on Sunday.

  • Syndicate Bank to cut base rate by 25 bps Apr 20, 2012 10:57 AM IST

    Syndicate Bank to cut base rate by 25 bps

    Syndicate Bank will cut base rate by 25 bps to 10.50% and BPLR by 25 bps to 14.75% from May 1. They will also cut deposit rates on some tenure from April 23, reports CNBC-TV18.

  • Escorts promoters shores up stake fearing takeover threat Apr 19, 2012 09:48 PM IST

    Escorts promoters shores up stake fearing takeover threat

    Escorts could face a hostile takeover threat and the company has shored up its promoter stake by 5% in last 2-3 weeks in a bid to prevent it, reports CNBC-TV18's Swati Khandelwal Jain quoting sources.

  • LIC Housing Finance plans to borrow Rs 25,000 cr in FY13 Apr 13, 2012 05:36 PM IST

    LIC Housing Finance plans to borrow Rs 25,000 cr in FY13

    LIC Housing Finance, a subsidiary of state-run insurance giant LIC, is planning to borrow around Rs 25,000 crore in the current financial year, which is about 13.5% higher than FY12, a top official said today.

  • Syndicate Bank shareholders okay preferential issue Mar 22, 2012 03:24 PM IST

    Syndicate Bank shareholders okay preferential issue

    Syndicate Bank shareholders okayed preferential issue to government and LIC. The preferential issue is worth Rs 866.2 crore at Rs 114.15 per share, reports CNBC-TV18.

  • Budget 2012-13: How it will impact the markets Mar 21, 2012 09:21 PM IST

    Budget 2012-13: How it will impact the markets

    The Finance ministers' latest bill offers little to cheer -- either for industry, individuals or the market.

  • The ONGC Maha Auction, Maha Failure! Mar 12, 2012 02:54 PM IST

    The ONGC Maha Auction, Maha Failure!

    On March 1st, the government in a disinvestment move launched India’s first OFS or offer for sale- an auction of sorts.

  • LIC to exit MTNL; stock rises Mar 09, 2012 09:34 AM IST

    LIC to exit MTNL; stock rises

    LIC wants to exit Mahanagar Telephone Nigam (MTNL) via private placement, reports Business Standard.

  • LIC raises stake in ONGC to 9.5% after auction Mar 06, 2012 06:02 AM IST

    LIC raises stake in ONGC to 9.5% after auction

    State-owned Life Insurance Corp's (LIC) holding in state-run Oil and Natural Gas Corp has risen to 9.48% after a share sale auction in the company by the government last week.

  • Don't regret setting ONGC floor price at premium: Govt Mar 05, 2012 09:46 PM IST

    Don't regret setting ONGC floor price at premium: Govt

    Siddharth Pradhan, additional secretary of the Department of Disinvestment, tells CNBC-TV18 that they do not regret setting the ONGC auction floor price at a premium.

  • LIC, BoB & Citi to partner ICICI in setting up IDF: Kochhar Mar 05, 2012 06:19 PM IST

    LIC, BoB & Citi to partner ICICI in setting up IDF: Kochhar

    Managing director and chief executive of ICICI Bank, Chanda Kochhar today said that their infrastructure debt fund (IDF) will be set up in partnership with Bank of Baroda, LIC and Citigroup.

  • LIC raises stake in ONGC to 9.5% after auction Mar 05, 2012 02:16 PM IST

    LIC raises stake in ONGC to 9.5% after auction

    State-owned Life Insurance Corp's (LIC) holding in state-run Oil and Natural Gas Corp has risen to 9.48% after a share sale auction in the company by the government last week.

  • Retail opportunity has to be tapped, says Union Bank's ED Mar 05, 2012 01:12 PM IST

    Retail opportunity has to be tapped, says Union Bank's ED

    Union Bank of India is trying to strengthen its recovery process for bad loans and aims to lower its gross NPA ratio to 3% as against 3.33% in Q3. Concern over asset quality is the main reason why UBI shares have underperformed the benchmark Nifty over the last year. Compared to a 4.4% drop in the index, UBI shares have fallen over 28%.

  • Value of LIC investment in ONGC dips by Rs 900cr in 2 days Mar 04, 2012 05:50 PM IST

    Value of LIC investment in ONGC dips by Rs 900cr in 2 days

    State-owned insurance giant LIC, which saved the much-hyped ONGC share auction, has lost around Rs 900 crore in market value of the acquired stake in the oil major in just two trading sessions after the Offer for Sale (OFS) on Thursday.

  • Govt equity may go up to 71% post pref issue: IDBI Bank Mar 03, 2012 12:43 PM IST

    Govt equity may go up to 71% post pref issue: IDBI Bank

    About 5% of the issue will be given to LIC as a preferential allotment, informs RK Bansal, ED & CFO of IDBI Bank.

  • Quite close to market, only stock-specific movement noted Mar 02, 2012 07:17 PM IST

    Quite close to market, only stock-specific movement noted

    From early on this morning, it appeared that the market would be range bound. At no point did it show extraordinary strength or weakness. It is perhaps waiting for election results on Tuesday to make a more decisive move, says Udayan Mukherjee, managing editor, CNBC-TV18.

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