Life insurance of india

India s largest IPO, for insurer LIC, oversubscribed 2.95 times, Reuters

MUMBAI, May 9 (Reuters) - India's largest ever initial public offering (IPO), by Life Insurance Corp (LIC), was oversubscribed 2.95 times as six days of bidding came to an end on Monday, according to a stock exchange filing. The government expects to raise up to $2.7 billion - a third of its original target - from selling a 3.5% stake in the country's top insurer. Investors bid for 478.4 million shares compared with the total 162.1 million on offer. Bids were oversubscribed nearly twice by retail individual investors (RIIs), who were offered 69.2 million shares at a discount of 45 rupees per share. The price range for the issue has been set between 902 and 949 rupees per share and...

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1 in 3 life insurance policies in India sold to women: SBI report, Deccan Herald

Every one in three life insurance policies in India are sold to women even as the insurance industry is set for an overhaul post Covid-19 pandemic. According to a research by State Bank of India’s Economic Research Department, the number of policies issued to women in FY21 is around 93 lakh which is a 33 per cent share as against a share of 32.23 per cent in 2019-20. The proportion of policies on women in case of private life insurers is 27 per cent and that of LIC is 35 per cent, says the report authored by Dr Soumya Kanti Ghosh, Group Chief Economic Adviser, SBI. In 19 states/UTs, the share in number of policies bought by women to the total policies sold is higher than the all-India...

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Factbox: Four facts about Indian insurance giant LIC as mega-IPO nears, Reuters

NEW DELHI, Feb 14 (Reuters) - The Indian government has set the ball rolling for the country's biggest initial public offering (IPO) by March-end, filing draft papers for a share sale by state-owned insurance giant Life Insurance Corp of India (LIC) with regulators on Sunday. Very little was previously known about finances at the 65-year-old firm, which declared its embedded value for the first time pegging it at 5.39 trillion rupees ($72 billion). Embedded value is a measure of future cash flows in life insurance companies, a key gauge. Here are some four key facts to consider ahead of the IPO: ASSETS UNDER MANAGEMENT LIC's assets under management (AUM) stood at 39.56 trillion...

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LIC growth worsens, lags private rivals ahead of IPO, Mint

LIC growth worsens, lags private rivals ahead of IPO Private insurers have steadily eaten into LIC’s market share over the years. (Photo: Reuters) During the fiscal year so far, all top private life insurers have grown their new business premium faster than LIC—SBI Life Insurance by 25% to ₹ 22,613.4 crore; ICICI Prudential Life Insurance by 18% to ₹ 12,844.8 crore; Max Life Insurance by 16% to ₹ 6,510.75 crore; and HDFC Life Insurance by 22.52% to ₹ 21,136.7 crore. The latest figures from the Insurance Regulatory and Development Authority of India (IRDAI) highlight one of the worst years for LIC, which is set to go public soon. The insurer’s struggle to grow new business means its ability...

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India’s rush to list LIC is a mistake in making, Reuters

MUMBAI, Feb 4 (Reuters Breakingviews) - There are many ways to bungle an initial public offering. Indian Prime Minister Narendra Modi is tempting fate by rushing the market debut of Life Insurance Corp of India read more. New Delhi wants to bag proceeds from selling a stake in the company before the fiscal year ends within two months. Finance minister Nirmala Sitharaman underscored the preferred March 31 deadline after presenting the country’s budget this week. If India sells 5% of LIC at a market valuation of almost $230 billion, the government would collect over $11 billion. That assumes its $67 billion embedded value, a hotly anticipated number exclusively reported by Reuters read more...

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LIC IPO is credit positive for India's life insurance sector: Moody's - Hindustan Times

LIC IPO is credit positive for India's life insurance sector: Moody's Representative image.(HT File) Examining the impact of India's state-owned Life Insurance Corporation's IPO Moody's Investors Service on Thursday said that the public issue is credit positive for India's life insurance sector. LIC IPO, which hit the market on Wednesday, will remain open till May 9. By 10:30 am on Thursday, LIC IPO was subscribed 71 per cent. Policyholders' portion subscribed 2.14 times, staff portion 1.31 times, retail investors subscribed 65 per cent of their allocated portion, QIBs close 33 per cent and NII lapped up 28 per cent of their portion. Moody's said, as a listed company, LIC will face more...

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How Big Is Lic? The Stunning Scale Of India’s Biggest Ipo Ever, Mint

How big is LIC? The stunning scale of India’s biggest IPO ever Life Insurance Corporation of India's (LIC) headquarters is seen in Mumbai (REUTERS) The IPO is the biggest chunk of the government’s plan to raise 1.75 trillion rupees ($24 billion) by selling assets. The money would be used to narrow India’s budget deficit, which is forecast to be 6.8% this year. The government plan includes offering majority stakes in four other state-run firms -- Air India, Bharat Petroleum Corp., Shipping Corp. of India and Container Corp. of India. The government is aiming for sometime in the first three months of 2022. The IPO was initially planned for the fiscal year beginning April 1, 2020, but was...

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LIC to open India s biggest IPO issue by mid-March - sources, Reuters

MUMBAI, Jan 13 (Reuters) - Life Insurance Corporation (LIC), India's largest insurer, could publish key details of its mammoth initial public offering (IPO) this month and begin issuing public shares by mid-March, government and banking officials told Reuters on Thursday. LIC's listing is set to be India's biggest ever IPO, with the government aiming to raise up to 900 billion rupees ($12.2 billion) from selling a stake. Officials are working on the valuation of the company which manages more than $450 billion of assets, and once that is done they will issue a draft IPO prospectus for investors, a government and two banking sources with direct knowledge of the matter said. "...

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Lic Ipo: What Gmp Signals Ahead Of Shares Listing Tomorrow, Mint

LIC IPO: What GMP signals ahead of shares listing tomorrow An exterior view of Life Insurance Corporation of India's (LIC) headquarters is seen in Mumbai (REUTERS) As per market observers, LIC shares continue to trade at a discount of ₹ 19 in the grey market today. The grey market discount indicates that the stock may have a moderate to discounted listing. "The financial behemoth got a mixed response despite attractively priced valuations on account of subdued market conditions. The current sentiments indicates at par to discount listing, however, if market sentiments stabilises or improves till listing, we may see a positive impact. Hence, one should limit their expectations as far as...

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Explained I The amendment that helped LIC’s embedded value - The Hindu

State-owned insurance company LIC filed its Draft Red-Herring Prospectus (DRHP) on Sunday. Noteworthy among the risk factors mentioned by the corporation was the splitting of the single ‘Life Fund’ into participatory and non-participatory funds. This will, however, have a positive impact on LIC’s valuations as it approaches the primary market. What are participatory and non-participatory funds? Let us start with participatory and non-participatory policies. Under a participatory policy, a policyholder can get a share of the profits of the company. This is received as a bonus. Examples of such products offered by LIC include Jeevan Labh and Bachat Plus. No such sharing of profits...

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