The insurance watchdog earlier said it would launch investigation in to the books of LIC pertaining 2009-10. J Harinarayan IRDA chairman said there is no violation committed by the LIC and it was just an actuarial shortage as to the current actuarial estimates.
Life Insurance Corporation of India (LIC) saved government’s divestment programme from disaster by investing up to 11,000 crore in public sector companies last year. According to the finance ministry statistics, LIC accounts about 43 percent of the Rs 25,000 crore raised by the government from four share issues.
LIC entered the credit card business in March 2009 by floating a wholly-owned subsidiary — LIC Card Services . The ‘LIC Cards’ are managed by Corporation Bank and the Visa is the payment service provider.
To provide a social security cover for weaker sections, Life Corporation of India (LIC), is all set to surpass last year’s target of bringing more than 59,000 people under a life cover that also provides additional benefits.
The Life Insurance Corporation of India (LIC) has crossed Rs 10 billion mark under the new ULIP plans, pension plus and endowment plus.
Life Insurance Corporation Chairman TS Vijayan today said the life insurance major will pass on the tax benefits from the proposed Direct Tax Code to the new policyholders. “We will pass on the DTC benefits to the policyholders,” Vijayan told an insurance summit organised by industry body Assocham here today.
Life Insurance Corporation of India, India’s largest life insurer, has announced its audited figures for the financial year ended March 2010. LIC has declared a Valuation Surplus of Rs 23,478 crores of which Rs 1,029 crores is given to the…
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