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The government recently appointed S K Roy as chairman of Life Insurance Corporation of India. The Appointments Committee of the Cabinet (ACC) has already cleared his name. The notification in this regard has been issued, sources said.
According to D K Mehrotra, chairman, Life Insurance Corporation of India, for the year ended March 31 2012, the company settled a total of 185.70 lakh claims with an amount of 65,586 crores under individual category alone.
Life Insurance Corporation of India has planned to get into the banking sector through its subsidiary, LIC Housing Finance. D K Mehrotra, chairman of Life Insurance Corporation of India, the government-owned giant, talks of their plans with Business Standard. Read more
The government   appointed T S Vijayan, 60, as the new chairman of the Insurance Regulatory and Development Authority (IRDA).
Vijayan’s appointment was cleared by the Prime Minister’s Office last week following green signal from the Central Vigilance Commission at January-end. Read more
Life Insurance Corporation (LIC) of India, country’s largest insurance service provider, is not concerned about increased foreign direct investment (FDI) in insurance sector. LIC chairman D K Mehrotra said recently that the company is market leader in insurance sector and the FDI won’t affect them. Read more
Life Insurance Corporation of India has rejigged its portfolio in several companies ahead of New Year 2013. The companies whose shares were bought and sold by LIC through the open market included Cairn India, Tata Global Beverages and Sanofi India. Read more
Life Insurance Corporation (LIC) of India is eyeing greater regional outreach, as premiums in Bahrain registered a steady growth despite a general slowdown of the industry. India’s largest insurer is upbeat about growth prospects as it tries to encourage Bahrainis to take up life insurance. Read more
Implementation of product design guidelines poses a big challenge for life insurers, especially for a player like Life Insurance Corporation of India (LIC). The withdrawal of products that have been serving customers for more than five decades places reputation at risk, says D K Mehrotra, chairman, LIC, in an interview with Aswathy Varughese & Raj Nambisan. Edited Read more
In a first ever move by the finance ministry to seek life insurers’ view on taxation issues, it has invited suggestions from life  insurance companies for making changes in direct and indirect taxes for the sector, to be considered in the Union Budget 2013-14.  In a letter to the Life Insurance Council, the ministry has called for suggestions and views for changes in the duty structure, rates  and broadening of tax base, giving economic justification for the same. Read more
Life Insurance Corporation of India (LIC) Chairman D K Mehrotra on Monday said the company would buy stakes in public sector units (PSUs) going for part-disinvestment if it found good value in doing so.
The government has planned to sell some stake in PSUs such as Hindustan Copper, Oil India, Minerals and Metals Trading Corporation, National Aluminium and NMDC, among others. Read more
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