🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

LIC targets acquisition route to venture into health insurance market: Report

Money Control

Money Control · 1y ago

LIC targets acquisition route to venture into health insurance market: Report

In an effort to increase insurance penetration, a parliamentary panel in India has proposed amendments to the Insurance Act to introduce composite licensing. The Life Insurance Corporation of India (LIC) is reportedly looking to acquire one of the country's five private health insurers as part of their strategy to enter the health insurance market. LIC Chairman Siddhartha Mohanty has expressed their interest in exploring inorganic growth opportunities and stated that LIC is ready to enter the health insurance space. The LIC management is confident in achieving double-digit growth in Annual Premium Equivalent by 2024-2025 through product diversification and channel expansion.

Related News

Grapevine: Verlinvest, LIC, Mizuho Financial, and Good Glamm co-founder Saggi in news

VCCircle

VCCircle · 7m ago

Grapevine: Verlinvest, LIC, Mizuho Financial, and Good Glamm co-founder Saggi in news

Verlinvest, LIC, Mizuho Financial, and Good Glamm co-founder Naiyya Saggi have made headlines. LIC is looking to enter the health insurance sector through an inorganic route, Mizuho Financial is planning to expand in India's private equity and venture capital space, and Naiyya Saggi is launching a venture in the consumer electronics sector.

LIC plans to buy a private health insurance company

Livemint

Livemint · 1y ago

LIC plans to buy a private health insurance company

Life Insurance Corp. of India (LIC) is planning to acquire a private standalone health insurance company in order to establish a presence in India's growing health insurance market. LIC, which currently holds over 61.5% market share in life insurance, aims to secure a composite license from the Insurance Regulatory and Development Authority of India (Irdai) to sell both life and non-life policies. The acquisition will allow LIC to leverage its extensive network and agency force to sell health insurance products. The move aligns with Irdai's vision of "Insurance for All by 2047".

'Will not have majority stake': LIC to announce acquisition in health insurance firm by March 31, says CEO Mohanty

Business Today

Business Today · 3m ago

'Will not have majority stake': LIC to announce acquisition in health insurance firm by March 31, says CEO Mohanty

LIC's CEO, Siddhartha Mohanty, announced that a decision regarding an acquisition in a health insurance firm is expected by March 31. He stated that LIC will not hold a majority stake (51%) in the firm. Entering the health insurance market and issuing long-term bonds aim to strengthen LIC's market position and financial resilience.

LIC eyes health insurers; Ola Electric secures Rs 100-crore debt

VCCircle

VCCircle · 1y ago

LIC eyes health insurers; Ola Electric secures Rs 100-crore debt

Life Insurance Corporation of India (LIC) is reportedly looking to acquire one of India's private standalone health insurers, as it seeks to establish a presence in the expanding health insurance sector. LIC, which holds a significant market share in life insurance, is said to be looking for strategic investments to tap into the growing demand for health insurance in the country. In another development, Ola Electric, backed by Ola Cabs, has secured INR 100 crore ($13.53m) in debt funding to support its electric vehicle production plans.

LIC hopes to decide on health insurer stake buy by March-end: CEO

VCCircle

VCCircle · 3m ago

LIC hopes to decide on health insurer stake buy by March-end: CEO

Life Insurance Corporation of India (LIC) aims to decide on acquiring a stake in a health insurance company by March-end, announced CEO Siddhartha Mohanty. Not seeking a majority stake, LIC is exploring the health insurance market to meet rising competition and growing consumer demand. Additionally, LIC is in discussions with the Reserve Bank of India about issuing longer-term bonds, such as 50-year or 100-year bonds, beyond currently available maturities.

LIC presents dividend cheque of ₹1,831 crore to FM Nirmala Sitharaman

Livemint

Livemint · 1y ago

LIC presents dividend cheque of ₹1,831 crore to FM Nirmala Sitharaman

Life Insurance Corporation of India (LIC) has presented a dividend cheque of ₹1,831.09 crore to Finance Minister Nirmala Sitharaman. LIC Chairman Siddhartha Mohanty presented the cheque as the government's share of the dividend. The dividend was approved by the shareholders in the annual general meeting held on August 22. LIC, which has been in operation for 67 years, has an asset base of ₹45.50 lakh crore and a life fund of ₹40.81 lakh crore as of March 31, 2023. Despite two decades of competition in the insurance sector, LIC remains the market leader in India.

LIC exploring possibility of setting up fintech arm

Economic Times

Economic Times · 1y ago

LIC exploring possibility of setting up fintech arm

Life Insurance Corporation (LIC) is considering the establishment of a fintech unit as part of its digital transformation project, DIVE (Digital Innovation and Value Enhancement). LIC aims to enhance its digital initiatives for customers, intermediaries, and marketing personnel. The first phase will focus on transforming customer acquisition, followed by other areas such as claims settlement and loan services. LIC is also exploring the idea of having its own fintech arm as a potential business model. Additionally, LIC plans to launch a new product in December that offers assured returns and features like loan facilities and premature withdrawal options.

'Deeply discounted valuation': LIC shares a buy? ICICI Securities answers

Business Today

Business Today · 4m ago

'Deeply discounted valuation': LIC shares a buy? ICICI Securities answers

ICICI Securities recommends buying Life Insurance Corporation (LIC) shares with a target price of Rs 1,040, viewing them as deeply discounted. As of the report, LIC's share price was Rs 777.90, reflecting a 1.83% daily increase, though it was down by 13% in 2025 and 25% over the past year. Despite these declines, the brokerage firm maintains a positive outlook, suggesting potential for significant price appreciation in LIC shares.

Here's why LIC net profit fell 50% to Rs 7,925 crore in Q2 FY24

IndianStartupNews

IndianStartupNews · 1y ago

Here's why LIC net profit fell 50% to Rs 7,925 crore in Q2 FY24

Insurance giant Life Insurance Corporation of India (LIC) reported a 50% drop in net profit for the second quarter of the financial year 2024, amounting to Rs 7,925 crore. The decline was attributed to a decrease in net premium income and a change in accounting policy. However, LIC saw a rise in income from investments and improvements in solvency margin and gross non-performing assets ratio. While LIC's group business performance showed mixed results, the chairman expressed optimism for future growth. Other leaders in the Indian insurance market include SBI Life, HDFC Life, and ICICI Prudential Life.

Adar Poonawalla to sell Magma Insurance stake to Baba Ramdevs Ramdev Patanjali DS Group

Business Today

Business Today · 3m ago

Adar Poonawalla to sell Magma Insurance stake to Baba Ramdevs Ramdev Patanjali DS Group

Adar Poonawalla's Sanoti Properties is set to sell its 98% stake in Magma Insurance to Patanjali Ayurved and DS Group for Rs 4,500 crore. Magma General Insurance offers both retail and commercial products, including vehicle, health, and home insurance, among others. With projected premium growth, the strategic acquisition by Patanjali and DS Group aims to expand their presence in the insurance market, challenging existing players and introducing new competitive dynamics.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

June 2025

Helping your parents when you are miles away

The Pit Stop Your Cravings Deserve

The next generation E-commerce platform

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

'We are busy building Bhujia comp ...

Railways launches RailOne Super A ...

All In Capital launches The Eleva ...

Download the medial app to read full posts, comements and news.