LIC

LIC to step up services in cyclone-hit AP, Odisha

The country's largest life insurer, Life Insurance Corporation of India, has appointed nodal officers in cyclone-devastated Andhra Pradesh and Odisha for stepping up its services in the region, including expediting settlement claims.

Yogesh, Pankaj enter semis of carrom tourney

Yogesh Pardesi of Indian Oil prevailed over Zahir Ahamed of LIC in straight games to enter the semifinals of the men`s singles in the All India Public Sector Carrom tournament, organised by Air India and Maharashtra Carrom Association Friday.

Chidambaram asks LIC to start camp in Uttarakhand to settle claims

Finance Minister P Chidambaram on Tuesday asked state-run Life Insurance Corporation to constitute a special team and set up a big camp office in Dehradun.

LIC can`t make consumer pay for its mistake: NCDRC

NCDRC asked the PSU to pay Rs 11,000 compensation to a customer for demanding additional premium from him 12 years after he had bought the policy.

CBI registers PE against LIC MD Vijayan

Although Vijayan was given a clean chit in the earlier
case, he is now accused of allegedly exposing the funds of LIC
by investing in IPOs of companies which are against the
investment policies of LIC.

5 accused in LIC exam paper leak case sent to 14 days custody

Five persons, arrested for
allegedly leaking the question paper of an all-India
examination for the post of LIC`s assistant administrative
officer here, were today remanded in judicial custody for 14
days.

HC asks LIC to submit proposal to rebuild its heritage bldg

The LIC, which has sought
permission for reconstructing its century-old heritage
building in an upscale area of south Mumbai, was today asked
by the Bombay High Court to submit by February 28 a proposal
in this regard.

LIC signs MoU with UIDAI over database sharing

LIC on Wednesday signed a MoU with the Unique Identification Authority of India, under which the insurance major would share data with the entity.

LIC sells 1.29% stake in Great Offshore for Rs 28.49 crore

Offshore oilfield services provider Great Offshore today said state-run Life Insurance Corporation has sold about 1.29 per cent stake in the company for Rs 28.49 crore.

Life insurers add 13 lakh agents during 2008-09

Life insurance companies have appointed around 13 lakh agents during 2008-09 despite the sector going through a tough phase following the impact of the global financial crisis.

LIC hikes stake in Bank of Maharashtra to 7.27%

Life Insurance Corporation of India on Saturday said it has hiked its stake to 7.27 percent in state-owned Bank of Maharashtra, after buying shares worth Rs 39.70 crore, through open market transactions.

LIC Housing Finance Q2 net up 25.85% to Rs 171.24 cr

LIC Housing Finance Thursday said its net profit rose by 25.85 per cent to Rs 171.24 crore for the second quarter ended September 30, against the same period
last fiscal.

Insurance Ind records 11.35% growth in premium income in H1

The insurance industry overall has registered a growth of 11.35 percent in premium collection at Rs 55,866.54 crore in the first six months of this fiscal as compared to Rs 50,171.09 crore in the year-ago period.

LIC invests Rs 90,000-crore in first half of this fiscal

Public sector life insurance major LIC has pumped in around Rs 90,000 crore into the markets, of which Rs 16,000 crore was into equities during the first-half of this fiscal, a top company official said.

ICICI Pru pips SBI Life to become largest private insurer

Private insurer ICICI Prudential has pipped SBI Life to regain the top position among private players garnering new businesses Rs 1,725 crore in the first five months of the current fiscal.

LIC grabs 67% share in first 5 months of current fiscal

LIC`s market share increased to 67% in new biz in the first five months of current fiscal.

No inherent right for revival of lapsed policy: Natl Comm

The lapsed insurance policy
cannot be revived as a matter of right on acceptance of the
premium without the policy-holder receiving the approval of
revival from the insurance company, the apex consumer body has
held.

LIC to invest Rs 1 lakh crore in stock market in 2009-10

State-run life insurance major LIC
on Thursday said it will invest Rs 1 lakh crore in the equity market
in the current fiscal, up from Rs 35,000 crore during 2008-09.