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Insurance News on LIC

Mr SK Roy Appointed Managing Director of Life Insurance Corporation of India

June 03, 2013 - 08:29 AM

Mr. S.K. Roy, who joined Life Insurance Corporation of India in 1981, was announced as the Managing Director of the Company. He is also the front runner for the post of Chairman of the company, which is currently held by Mr. D.K. Mehrotra and whose term has just ended.

Before being appointed as a Managing Director in LIC, Mr. S.K. Roy assumed the post of the head of the International Operations. Prior to his he was a regional manager of North Central Region and of Eastern Zone. He was also... Read More »

Posted in LIC , 2013 Highlights | 150 Views | Write a Comment »

Top 5 LIC official to contest for the post of LIC Chairman

April 29, 2013 - 02:28 PM

Life Insurance Corporation of India Managing Director, CEO, LIC Housing Finance Mr. V.K. Sharma, and Executive Director of LIC S.B. Mainak, S.K. Roy and Usha Sangwan are in the reckoning for the post of the Chairman of Life Insurance Corporation after its chairman vacant his office on 31st May 2013. For this government has also set up a special panel for interviewing the potential candidate.

According to the sources there will be cut throat competition between the contenders. Further at... Read More »

Posted in LIC | 206 Views | Write a Comment »

LIC introduces Single Premium Endowment Plan Jeevan Sugam

February 25, 2013 - 01:43 PM

The Life Insurance giant, Life Insurance Corporation of India announced the launch of a conventional close ended plan “Jeevan Sugam”. LIC Jeevan Sugam Plan is another product in the bouquet of Single Premium plans of LIC with a 10 times life coverage for the period. This plan is available for sale only for 45 days from 25^th February 2013.

Click here to read full review of LIC Jeevan Sugam Plan

The unique selling features of this plan is that it is a conventional single premium payment... Read More »

Posted in LIC | 1715 Views | 8 Comments »

Former LIC Head, Vijayan takes over as IRDA Chairman

February 22, 2013 - 02:18 PM

T S Vijayan former LIC Chief is new IRDA Chairman On receiving clearance from Central Vigilance Commission (CVC) and a final approval from Appointment Committee of the Cabinet, Prime Minister’s office announced the appointment of Mr. T.S. Vijayan as a 4th chairman of Insurance Regulatory and Development Authority (IRDA). He succeeded Mr. J. Hari Narayan, who was appointed as a chairman of IRDA in 2008 and retired as on 21st February 2013 after successfully completing his tenure of 5 years.

The Government had received 30 applications... Read More »

Posted in IRDA , LIC | 542 Views | Write a Comment »

Life Insurance Corp of India (LIC) has hiked its stake in Cairn India through open market route

January 04, 2013 - 08:13 PM

According to the disclosure on B.S.E. the financial major Life Insurance Corporation (L.I.C.) during the period June to December 2012 had purchased a stake in Cairn India worth Rs. 39.42 crores, i.e 2.06 % of the total shares issued by the Company. This has up the share holding by LIC in the Company to the tune of 7.088%.

LIC has purchased and sold in the open market the shares of many reputed Companies like Cairn India, Tata Beverages, Sanofi India etc, thereby shuffling its investment in... Read More »

Posted in LIC , Life Insurance | 612 Views | Write a Comment »

LIC announces launch of two new plans-Flexi Plan and New Jeevan Nidhi Plan

January 02, 2013 - 06:49 PM

Life Insurance Corporation of India has introduced 2 new plans. One of them is Flexi Plus, a ULIP under the new IRDA guidelines and the other one New Jeevan Nidhi Plan, a conventional deferred annuity plan with bonus facility.

LIC is the largest LIC insurance and investment company in India where the government of India has 100% stake. LIC is serving life insurance products for both individual and corporate since 1956. The public sector insurance company has term insurance, retirement plans,... Read More »

Posted in LIC , Life Insurance | 1461 Views | 2 Comments »

Better claim payment ratio by LIC as compared to private players

December 28, 2012 - 10:14 AM

As per the annual report of IRDA, the Life Insurance Corporation of India (LIC) has better record of paying death claims than that of private life insurers even though it holds more than 70% of the industry volume and there are about 2 dozen private players in the Insurance Industry.

The Life Insurance Corporation of India (LIC) is the largest insurance group and investment company in India where the Government of India has 100% stake. They hold more than 80% of the Life Insurance Business... Read More »

Posted in LIC , IRDA | 1220 Views | Write a Comment »

LIC makes Rs 11,000 Crore Share Sales Profit which strengthens cash position

December 19, 2012 - 08:43 AM

In order to pile up cash reserves, for the purpose of investing in government companies, Life Insurance Corporation has sold its share holding in companies like Larsen and Turbo and Mahindra & Mahindra. Last year LIC had subscribed to the 100% issue worth Rs. 12,000 crore of Oil and Natural Gas Corporation. Apart from the above proposed investment in government companies, this financial year, LIC has already invested in 33% of the share capital of Hindustan Copper Limited and NMDC. LIC is a like... Read More »

Posted in LIC , Life Insurance | 907 Views | Write a Comment »

LIC uses Aadhar way to achieve their Vision to insure everyone in India

December 15, 2012 - 01:01 AM

The Life Insurance Corporation of India has Vision 2020, where they aim to provide insurance policy to each insurable life in the country. Mr. D.K. Mehrotra, chairman of Life Insurance Corporation of India revealed their plan to capitalize on the Government’s Aadhar Program, that provides unique identity to all the people of the country and to capitalize on the same to achieve their Vision 2020. Thus, LIC has already initiated their process to insure everyone who already has an Aadhar card. This... Read More »

Posted in LIC , Insurance, Life Insurance | 1168 Views | Write a Comment »