Tag: LIC

LIC Housing Finance Q2 net profit down 69% to Rs 247.86 crore on higher provisioning for bad loans

Mortgage lender LIC Housing Finance Ltd (LICHFL) on Thursday reported a 68.66 percent decline in its standalone profit after tax at Rs 247.86 crore in the September quarter on higher provisioning for non-performing loans. It had posted a profit after tax of Rs 790.90 crore in the corresponding quarter of the previous fiscal. “The profit got hit […]

Life insurance industry at risk of sharply rising rates: IMF

The life insurance industry is at risk if there is a sharp rise in bond yields, with an extreme situation potentially causing insurers to liquidate investments reaching $1 trillion in the United States and Europe, the International Monetary Fund warned on Tuesday. Vulnerabilities have increased for life insurers, the IMF said in its Global Financial Stability Report, […]

Air India sale kicks off major privatisation drive, next up LIC listing, says official

The sale of national carrier Air India to conglomerate Tatas has opened the way for faster privatization of state firms and the government is on track to list Life Insurance Corporation (LIC) early next year, a top government official said on Tuesday. Tuhin Kanta Pandey, spearheading the drive to sell state enterprises or shut them down, said the government hoped […]

Govt mulls allowing foreign direct investment in Life Insurance Corp IPO

The government is mulling allowing foreign direct investment (FDI) in the country’s largest insurer LIC, a move which would help overseas investors take part in the company’s proposed mega IPO, sources said. The proposal is under discussion between the Department of Financial Services and the Department of Investment and Public Asset Management (DIPAM). “Discussions have been […]

Back To Top