LIC

In a week marked by mixed performance in equity markets, Life Insurance Corporation of India (LIC) emerged as the biggest gainer, adding ₹59,233.61 crore to its market capitalization. Despite a 0.33% decline in the BSE benchmark, LIC's impressive growth helped offset the losses seen by other major players like Reliance Industries, TCS, and Infosys. Among the top 10 most valued firms, a combined market valuation increase of ₹1,01,369.5 crore was recorded.

Shares of Life Insurance Corporation of India (LIC) surged nearly 9% following a robust 38% year-over-year rise in net profit for the fourth quarter ended March 2025, driven largely by significant cost reductions. The insurer posted a net profit of Rs 19,013 crore, up from Rs 13,763 crore a year earlier, despite a decline in total income to Rs 2,41,625 crore. While first-year premium income softened, renewal premiums improved.

In a landmark accomplishment for India’s insurance sector, Life Insurance Corporation of India (LIC) has secured a Guinness World Record for the highest number of life insurance policies sold within a 24-hour period. On January 20, 2025—an internal campaign dubbed ‘Mad Million Day’—LIC’s vast agency network issued 5,88,107 policies nationwide, showcasing an unmatched level of operational coordination and agent productivity.

In a key development concerning IDBI Bank’s boardroom composition, Raj Kumar, the nominee director representing Life Insurance Corporation of India (LIC), vacated his seat effective May 18, 2025, upon completion of his tenure. Kumar’s exit marks a notable shift, given LIC’s significant ownership in the bank. Together with the Government of India, LIC holds a combined 94.71% stake, with the insurer controlling a little over 49% and the government holding 45.48%. The announcement, filed with exchanges on Monday, comes amid continued market interest in the bank’s strategic roadmap.

Life Insurance Corporation of India (LIC), the country’s largest insurer, has introduced a premium payment feature via WhatsApp as part of its ongoing digital transformation agenda. This new functionality allows policyholders to identify pending premiums, complete transactions, and receive payment receipts—all within WhatsApp's secure chat interface. With over 2.2 crore registered users on LIC’s digital portal and daily traffic exceeding three lakh logins, this initiative aims to streamline operations, enhance user experience, and boost digital adoption across India's insurance landscape.

In a significant move towards digital transformation, Life Insurance Corporation of India (LIC) has introduced a new WhatsApp bot for premium payments, enhancing convenience for its vast customer base. This feature allows policyholders to easily check due premiums and make payments via UPI, net banking, or credit cards, all within the messaging platform. LIC's CEO, Siddhartha Mohanty, highlighted the ease and efficiency the new service brings to customers, reinforcing the company's commitment to modernizing its operations.

In a strategic move reflecting sustained confidence in India’s public sector banking sector, Life Insurance Corporation of India (LIC) has increased its shareholding in Bank of India (BoI) to 8.38% as of May 9, 2025. The country’s largest insurer gradually acquired an additional 2.026% stake in BoI over nearly four years, boosting its holding from 6.35%. The transaction underscores LIC’s broader investment strategy, which frequently emphasizes long-term positions in state-backed institutions.

In a strategic move reflecting growing institutional confidence in India's public sector banking space, Life Insurance Corporation of India (LIC) has increased its equity stake in Bank of Baroda (BoB) to 7.05%. The insurance giant acquired an additional 10.45 crore shares from the open market over a span of nearly 17 months—from November 20, 2023 to April 16, 2025. The stake hike, up from 5.03%, highlights LIC’s renewed conviction in BoB's long-term fundamentals amid the bank’s ongoing digital and structural transformation. Following the disclosure, BoB shares advanced 3.09% to Rs.