Post office told to pay for PMJJBY claim delay
The Nalgonda consumer commission on July 31 ordered the post office to pay Rs 35,000 for delay in a PMJJBY insurance claim. Moloth Lala enrolled in the scheme through the post office…
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LIC pays ₹12,207.25 crore dividend to government
State-owned Life Insurance Corporation of India (LIC) paid a dividend of ₹12,207.25 crore to the central government on Wednesday, according to The Hindu. CEO and MD R. Doraiswamy handed the cheque to…
LIC culls low-productivity agents, shifts to high-value policies
Life Insurance Corporation of India is pruning low-productivity agents and pivoting to larger policies, a strategy aimed at boosting profitability and persistency. ET BFSI reports agency headcount fell in the June quarter…
Centre raises Rs 59,083 crore from PSU sales, asset sales in FY27 so far
The Centre has raised Rs 59,083 crore from disinvestment and asset monetisation in FY27 so far, exceeding the Rs 80,000 crore target set for miscellaneous capital receipts, Minister of State for Finance…
LIC shares climb 1.66% after Q1 profit jumps 23%
LIC shares closed 1.66% higher at ₹394 on the NSE on Friday, a day after the state-owned insurer reported a 23% rise in June-quarter net profit to ₹13,492 crore. Net premium income…
LIC’s VNB jumps 61%, but valuation limits investor appeal
LIC’s value of new business rose 61% in the first quarter, driving a 750-basis-point year-on-year increase in its VNB margin to 22.9%, Livemint reports. Annualised premium equivalent grew 8% to Rs 13,692…
LIC stake sale raises $3.3 billion after institutional demand surges
The government raised $3.3 billion by selling shares in Life Insurance Corp. of India, more than doubling the planned offer and making it India’s biggest stock exchange secondary offering. Institutional investors subscribed…
LIC sees no further government stake sale for 18 to 24 months
The government is unlikely to sell more LIC shares for 18 to 24 months, Managing Director R Doraiswamy said, according to The Economic Times. LIC has already reached 10% public shareholding ahead…
Lupin Q1 profit rises 16% as margins widen
Lupin reported a consolidated net profit of Rs 1,415 crore for the June quarter, up 16% from a year earlier and above the Bloomberg estimate of Rs 1,350 crore, NDTV Profit reported.…
LIC Q1 Profit Rises 23% to Rs 13,492 Crore
Life Insurance Corporation of India reported a standalone net profit of Rs 13,492 crore for the June quarter, up 22.8% from a year earlier. Total premium income rose 6.8% to Rs 1,27,250…
