LIC: LIC News, Life Insurance Corporation of India Latest Updates (original) (raw)

The Parliament of India passed the Life Insurance Corporation Act on the 19th of June 1956, and the Life Insurance Corporation of India was created on September 1, 1956, with the objective of spreading life insur...The Parliament of India passed the Life Insurance Corporation Act on the 19th of June 1956, and the Life Insurance Corporation of India was created on September 1, 1956, with the objective of spreading life insurance much more widely and in particular to the rural areas with a view to reach all insurable persons in the country, providing them adequate financial cover at a reasonable cost.

According to the LIC DRHP filed with SEBI, LIC is the largest life insurer in India, with a 64.1% market share in terms of premiums (or GWP), a 66.2% market share in terms of New Business Premium (or NBP), a 74.6% market share in terms of number of individual policies issued, a 81.1% market share in terms of number of group policies issued for Fiscal 2021, as well as by the number of individual agents, which comprised 55% of all individual agents in India as at March 31, 2021.

LIC’s individual products comprise (i) participating insurance products and (ii) non-participating products, which include (a) savings insurance products; (b) term insurance products; (c) health insurance products; (d) annuity and pension products; and (e) unit linked insurance products. Group products comprise (i) group term insurance products, (ii) group savings insurance products; (iii) group savings pension products; and (iv) group annuity products. As at September 30, 2021, our Corporation’s group product portfolio in India comprised 10 group products.

*Disclaimer Statement: This content is authored by an external agency. The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). ET does not guarantee, vouch for or endorse any of its contents nor is responsible for them in any manner whatsoever. Please take all steps necessary to ascertain that any information and content provided is correct, updated and verified. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content therein.

LIC

The Parliament of India passed the Life Insurance Corporation Act on the 19th of June 1956, and the Life Insurance Corporation of India was created on September 1, 1956, with the objective of spreading life insurance much more widely and in particular to the rural areas with a view to reach all insurable persons in the country, providing them adequate financial cover at a reasonable cost.According to the LIC DRHP filed with SEBI, LIC is the largest life insurer in India, with a 64.1% market share in terms of premiums (or GWP), a 66.2% market share in terms of New Business Premium (or NBP), a 74.6% market share in terms of number of individual policies issued, a 81.1% market share in terms of number of group policies issued for Fiscal 2021, as well as by the number of individual agents, which comprised 55% of all individual agents in India as at March 31, 2021.LIC’s individual products comprise (i) participating insurance products and (ii) non-participating products, which include (a) savings insurance products; (b) term insurance products; (c) health insurance products; (d) annuity and pension products; and (e) unit linked insurance products. Group products comprise (i) group term insurance products, (ii) group savings insurance products; (iii) group savings pension products; and (iv) group annuity products. As at September 30, 2021, our Corporation’s group product portfolio in India comprised 10 group products.

Stocks to buy: LIC, M&M and Grasim on investors' radar

Sensex and Nifty declined amid caution ahead of the RBI's monetary policy announcement and foreign fund outflows. Analyst Kushal Gandhi advises against purchasing LIC and M&M due to weak trends and increased volatility, but recommends purchasing Grasim as its intermediate trend shows signs of improvement.

Stocks in news: BSE, ITC, M&M, LIC, IndiGo, Zomato, Airtel

Diversified conglomerate ITC reported a 7% year-on-year (YoY) decline its consolidated net profit at Rs 4,935 crore. Revenues, meanwhile, increased 8% YoY to Rs 20,350 crore.

Will RBI cut interest rates? Morgan Stanley identifies stocks that could benefit the most

Lenders with a larger share of fixed-rate assets and floating-rate borrowings are likely to gain the most, as lower borrowing costs would reduce expenses while their income from existing fixed-rate loans remains unaffected. Additionally, unsecured lenders, vehicle financiers, and gold financiers are expected to benefit from the rate cut, as it would make borrowing cheaper for customers.

Stocks in news on Budget day: ITC, Sun Pharma, Vishal Mega Mart, Infosys, Hero MotoCorp, HUL, RVNL, IRCTC

Stock to News on Budget Day Today: So, watch out for ITC, Sun Pharma, Vishal Mega Mart, Infosys, Hero MotoCorp, HUL, RVNL, IRCTC and a slew of other stocks that will be in focus on the Budget day.

LIC to report Q3 results today. Here's what to expect

Life Insurance Corp is forecasted to show mid single-digit profit growth in Q3 FY24, despite a likely decline in annual premium equivalent. Analysts predict a 5% YoY profit increase, while APE might drop by 19%. The stock currently faces downward pressure, trading below key moving averages.

Neither GQG nor LIC, mutual funds played Adani bull in Q3

During the December quarter, domestic mutual funds increased their stakes in several Adani Group stocks while foreign investors reduced their holdings. GQG Partners cut its stake in some Adani stocks, whereas LIC maintained its positions with minor adjustments. The market remains watchful following the Adani Group’s bribery scandal in the US.

LIC Q3 Results: Cons PAT jumps 16% YoY to Rs 11,009 crore, net premium income down 9%

LIC Q3 Results: Net premium income for Q3FY25 stood at Rs 1,07,302 crore, down 9% YoY from Rs 1,17,432 crore and 11% QoQ from Rs 1,20,326 crore in Q2FY25. Despite this, profit after tax surged 42% sequentially from Rs 7,729 crore in the previous quarter. The state insurer’s financials reflect strong profitability despite a decline in premium income.

LIC gets GST demand notice of Rs 101.95 crore

Life Insurance Corporation of India (LIC) faces a demand notice for Rs 101.95 crore from tax authorities over short payments of GST for five financial years, from 2017-18 to 2021-22. LIC has received interest and penalty demands from various states and will appeal the order, clarifying no material impact on financials or operations.

Why Deepak Shenoy continues to bet on stronger India theme going forward

Deepak Shenoy, Founder of Capital Mind, emphasizes investing in sectors like defence, manufacturing, consumer durables, and financialisation for India's growth. He advises shifting focus from expensive FMCG companies to durable goods, which show higher growth potential. Private banks and NBFCs also offer opportunities, with a positive outlook on mid to long-term investments.

Due diligence of qualified bidders for IDBI Bank underway: MoS Finance

The due diligence process for the privatisation of IDBI Bank is currently in progress, with government and LIC selling nearly 61 percent stake. Essential clearances from the Ministry of Home Affairs and Reserve Bank of India have been obtained, and due diligence by qualified bidders has commenced.

For investors with long-term perspective: 6 large-caps from different sectors with an upside potential of up to 42%

Here’s an interesting fact about the stock markets. A large majority of those in the market will say they are long-term investors. The reality, however, is that if stocks correct and stay down for a few weeks or months, everyone starts worrying about their portfolio, and whether the stocks they own are worth holding. Whether we like it or not, major price movements of stocks tend to impact our decision-making and also make us anxious. One way to reduce the anxiety is to stay with companies where managements have a track record of dealing with different economic cycles. And demand is not an issue in the sector in which they operate. If these criteria are met, you don’t have to worry as long as you have a long-term perspective.

Even in a volatile market, these large-caps have ‘strong buy’ & ‘buy’ recos and an upside potential of more than 36%

For some time now we have spoken of the need to keep an eye on the currency markets. While there is a clear indication of a slowdown, what is hitting the equity markets more is events in the currency markets. As the rupee weakens, it is driving some of the hot money out of the Indian markets. The sudden increase in oil prices is another headache. Old timers would have seen all this before. But for those who entered the market after 2021, it is probably their first experience of a major correction. Just remember: Corrections are part of every market and will keep recurring. If they are sparked by global events, they may be short time-wise, but strong in terms of magnitude. But if they are caused by domestic economic reasons, they may last longer and also cause greater price damage. So, while being bullish, being selective is even more important in these times.

Hot Stocks: 4 stocks that may give returns between 20-78%

Analysts recommend PNB Housing Finance, Hyundai Motor, LIC, and Coal India stocks for their significant growth potential. PNB Housing potentially offers a 78% increase due to strong fundamentals, while Hyundai and LIC present considerable returns. Coal India is seen as top pick within metals and mining, driven by power demand and attractive valuations.

LIC gets GST demand notice of Rs 105 crore

Life Insurance Corporation of India (LIC) has received a demand notice amounting to Rs 105.42 crore for short payment of GST over seven financial years. The notice, received on February 5, includes interest and penalties for various states and can be appealed before the Commissioner (Appeals) in Lucknow.

Weekly Top Picks: These stocks scored 10 on 10 on Stock Reports Plus

Stock Reports Plus, powered by Refinitiv, undertakes detailed company analysis for 4,000+ listed stocks. In addition to detailed company analyses, the report also collates analysts’ forecasts and trend analysis for each component. An average score in Stock Reports Plus is calculated by undertaking quantitative analysis of five key investment tools – earnings, fundamentals, relative valuation, risk, and price momentum.

Q3 results this week: SBI, ITC, LIC among 748 companies to announce earnings

This week, 748 companies will announce quarterly earnings, with key results expected from Asian Paints, Titan, Airtel, SBI, M&M, ITC, and LIC. Sector highlights include Power Grid, Divi's Labs, Tata Power, and Bharti Airtel, among others. Notable earnings announcements span from February 3 to February 8, indicating a busy week for the markets.

Weekly Top Picks: These stocks scored 10 on 10 on Stock Reports Plus

Time to shed baggage of the NBFC crisis? 7 housing finance stocks with upside potential of up to 34%

As a sector, housing finance is among the most important for the economy. The reason: When a house is built, the impact is felt across the board. Makers of cement, brick and tiles, steel, pipes and sanitaryware, electrical wires and fixtures, as well as the unorganized workers who build the house. Everyone is impacted. But for housing finance companies, there is a major challenge: The base asset, real estate, is most non-transparent in terms of pricing, and also prone to scams. That is why we seek regulatory changes to keep the sector on track and avoid the kind of overheating that led to the crisis of 2018. In the six years since the housing finance companies witnessed major scams, there has been a regulatory clean-up and tightening of the whole sector. So, time to look at them again?

The Mother of all IPOs: Will 2025 Deliver India’s Largest IPO Ever?

2024 was a milestone year for Indian IPOs, with over 90 companies raising ₹1.62 lakh crore—more than double the ₹49,436 crore raised in 2023. The year witnessed Hyundai Motors India's ₹27,870 crore IPO, which became the largest in India’s history, surpassing LIC's ₹20,557 crore IPO in 2022. Looking ahead to 2025, big names like LG India (valued at 15billion),Flipkart(15 billion), Flipkart (15billion),Flipkart(36 billion), and Reliance Jio (valued at over $100 billion) are gearing up for IPOs. But will India see its largest listing in 2025? Watch the full video for more.The Mother of all IPOs: Will 2025 Deliver India’s Largest IPO Ever?

Year-ender 2024: Trent, Zomato among 33 biggest wealth creators this year. Where are the money-making opportunities in 2025?

In 2024, stocks like Trent, Zomato, PB Fintech, and others saw significant gains. Zomato, newly added to the Sensex, rose 121%, with its market cap increasing by Rs 1.55 lakh crore to Rs 2.63 lakh crore. Trent's stock grew by 131%, and its market cap surged by Rs 1.42 lakh crore to Rs 2.51 lakh crore, marking the highest growth.

Don’t paint all of them with RBI’s brush: 7 stocks in the financial services sector with upside potential of up to 51%

Once again the RBI has issued warnings to banks and NBFCs to mend their ways. It is not the first time this has happened, nor will it be the last. The RBI is doing its job, which is to ensure that credit growth is orderly and does not lead to a crisis as everyone goes overboard to lend. This is not to say that there are no bad apples in the financial services sector. But painting all companies with the same brush achieves little. It would be wrong to compare an NBFC which is focused on rural lending for the last two decades with one that is into unsecured lending in urban areas. While both are NBFCs, their operating matrices are different. And just because the second is under the lens, should the first also be punished?

Weekly Top Picks: These stocks scored 10 on 10 on Stock Reports Plus

More than half of Nifty 500 stocks now in downtrend

Of the 492 stocks on the NSE 500 stocks with 200 DMA data available, 268 are now trading below it. Last week's sell-off has had a bigger impact on the market trend than the weakness in the whole of October when less than 5% of the NSE 500 stocks traded below the 200-DMAs.

NFO Alert: LIC Mutual Fund launches multi asset allocation fund

LIC Mutual Fund has launched the LIC MF Multi Asset Allocation Fund, an open-ended scheme investing in equity, debt, and gold. The NFO opens on January 24 and closes on February 7, aiming for long-term capital appreciation. The scheme will follow a tactical asset allocation approach, with a diversified portfolio and an investment horizon of three years or more.

LIC shares surge over 2% on discussions to acquire 50% stake in ManipalCigna Health

LIC share price: State-owned LIC's shares rose 2.4% on news of a potential 50% stake acquisition in ManipalCigna Health Insurance. This move would mark LIC's entry into the health insurance sector, diversifying its portfolio. The deal, potentially valuing ManipalCigna around Rs 4,000 crore, aligns with LIC's stated goal of acquiring a health insurance provider this fiscal year.

These large-caps have ‘strong buy’ & ‘buy’ recos and an upside potential of more than 26%

The Nifty ending in red territory is nothing new, and in the current market investors must be ready to deal with volatility at any point of time. If it is sparked by global events, the initial part of any volatility will be led by large-caps. However, large-caps are also able to stabilize much before any other part of the market. But if the volatility is due to local reasons, then it is the mid-caps that come under pressure. So, If you are thinking of fresh exposure to the market it would be better to stick with large-caps. ET Screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.

Time to shed the negative bias? Yes, selectively. 5 NBFC stocks with an upside potential of up to 36%

Why does NBFC as a sector produce both the best of heroes and the worst of villains? The answer lies in the basic nature of the business. At one level, there is no dearth of demand for credit. But here is the catch: There is good credit and there is bad credit. There are enough examples to show that either by chasing fast growth or by simply siphoning off money, promoters of some NBFCs have actually been the reason for their own and their companies' downfall. It is the sector where the regulatory interventions have been highest – and rightly so.

LIC’s decline dampens life insurance industry growth in December 2024

The life insurance industry saw a 4.8% year-on-year growth in Retail Annualized Premium Equivalent (APE) for December 2024, hindered by a 13% decline in LIC’s Retail APE due to new surrender regulations, while private sector growth rose by 11.4%. SBI Life led as the fastest-growing private insurer.

Sleeping giant HDFC Bank shares wake up with Rs 3 lakh crore rally

HDFC Bank's shares surged by Rs 3 lakh crore in six months, reclaiming its position as a top wealth creator. The bank's post-merger balance sheet is stronger, outperforming rivals with a 19% increase in share value. Brokerages predict further growth, setting target prices as high as Rs 2,550, driven by strong FII interest and resilient asset quality.

LIC books profit in more than 100 stocks as bears outnumber bulls

India's largest institutional investor, LIC, has reduced its stake in over 100 NSE-listed companies, reaching a record low ownership of 3.59%. This move comes amidst a volatile market where FIIs have withdrawn significantly, impacting the Nifty. Despite this, experts believe India's valuation remains reasonable, with earnings growth expected to continue.

LTIMindtree shares jumped 1% as LIC increases stake to 7%

Life Insurance Corporation of India (LIC) has increased its stake in LTIMindtree from 5.033% to 7.034% through open market purchases. This news coincided with LTIMindtree's announcement of an 8% YoY growth in Q2 net profit, reaching Rs 1,251 crore, and a 6% rise in revenue to Rs 9,433 crore.

GQG hiked stake in 4 Adani stocks, LIC booked profit in 2 in Q2

GQG Partners increased its stake in four Adani Group companies during the September quarter, while LIC reduced its holdings in two. These changes occurred before the recent allegations against Gautam Adani. The Adani Group has faced investor uncertainty since the Hindenburg report.

LIC's Bima Sakhi Yojana records over 50,000 registrations within one month of launch

Bima Sakhi Yojana by LIC has achieved over 50,000 registrations in just one month since its launch by Prime Minister Narendra Modi. About 27,695 women have received appointment letters, and 14,583 have started selling policies. The scheme provides a monthly stipend and commission. It aims to recruit 2 lakh women in the next three years.

Insurance sector, will amendments amend the industry? 7 insurance stocks with upside potential as low as 7% to a high of 37%

Insurance as a sector has been in the limelight. But the narrative and reality are quite different. The sector is proof that a large market size does not mean that players will all see growth in the short term. It might be a long-term play when it comes to the overall growth of the markets. So, while insurance is a big opportunity, it will pan out over a period of time. More importantly, insurance as a business has a very different operating matrix for each segment. So, when you take exposure to the sector, differentiate between the segments. Because that will decide whether you make money – or not.

LIC shares in focus ahead of Q2 results today

Life Insurance Corporation of India (LIC) is set to announce its July-September 2024 quarterly results today. In the previous quarter, LIC reported a 9% rise in net profit, reaching Rs 10,544 crore, and a 16% increase in net premium income, hitting Rs 1.14 lakh crore. The company also saw significant growth in both individual and group business segments.