Shares of Life Insurance Corporation of India (LIC) gained 1.86%, trading at ₹933.35 on NSE as of 9:49 am today, following reports (of Money Control) that the insurer is in advanced discussions to acquire a substantial stake in ManipalCigna Health Insurance. Sources of moneycontrol.com suggest LIC may aim for a 50% stake in the company as part of its strategic expansion into the health insurance segment.
ManipalCigna Health Insurance, a joint venture between Manipal Education & Medical Group (51%) and US-based Cigna Corporation (49%), is not publicly listed, making this acquisition a strategic partnership. The move reflects LIC’s intent to diversify its portfolio and tap into India’s growing health insurance market.
During LIC’s Q2 analyst call, MD and CEO Siddhartha Mohanty stated, “The groundwork is on for finding a suitable health insurance company, and we will finalize a stake within this fiscal year.” If finalized, the acquisition would position LIC to strengthen its presence in the health insurance sector, complementing its existing dominance in life insurance.
The development underscores LIC’s proactive steps toward capitalizing on the fast-growing demand for health insurance in India.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
