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LIC's market share is unrivalled internationally, at 64.1 percent or $56.405 billion in gross written premium, with no other life insurer having such a large market share anywhere else.
The tie-up aims at facilitating seamless digital distribution of life insurance products across the nation.
LIC percentage across all three pillars continues to be positive between 2020 and 2021 with registering a growth of 11 per cent in brand performance measures.
DIPAM mentioned that the IPO is expected to be out by the last quarter of this fiscal year and reports doubting this is incorrect.
Given the number of regulatory procedures to be fulfilled, the government would unlikely to meet the deadline of the fourth quarter in the current financial year.
The LIC AE, AAO main exam will comprise two portions for a total of 325 marks.
"The government may block the Chinese investors from becoming cornerstone investors in the LIC IPO, but still, the Chinese investors can buy shares in the secondary market," says a government official.
The letter was sent following reports that the cabinet approved amendments to insurance laws to facilitate the privatization of insurance companies.
IDBI’s standalone net profit increased 318 percent year-on-year (YoY) in Q1.
A bid for Zomato's IPO would mark a major shift for India's largest insurance firm that generally invests in secondary markets.
According to a government gazette notification June 30, 2021, the amendments to the rules will be known as the Life Insurance Corporation of India (Staff) Amendment Rules, 2021.
LIC ties up with Paytm to provide more and more digital services to its customers .
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