New Delhi
Life Insurance Corporation of India (LIC) is preparing to enter the Health Insurance Sector. For this, the LIC Health Insurance Company has been engaged in the process of acquisition. This information has been given by the company’s CEO Siddharth Mohanty. In the midst of this news, LIC shares rose and on the second day of the week it rose 1.70% to cross Rs 758. Let us know that on March 3, the stock had come to a low of Rs 715. It is also a 52 -week low of the stock.
How long is LIC plan
LIC aims to finalize and announce the acquisition of the Health Insurance Company before 31 March. Mohanty clarified that the company that LIC would acquire, will not have a majority stake in it. The move is expected to strengthen the presence of LIC in the insurance sector. Let us tell you that LIC Chairman Siddharth Mohanty had earlier mentioned the company’s possibilities in the Health Insurance Sector.
LIC’s premium increases
Recently, LIC has recorded a huge increase in both group annual premium and individual premium in the first 11 months of FY 2025. LIC said that the group has increased by 28.29 percent in the annual renewable premium and 7.90 percent in the individual premium. By February 2025, the total premium collection of LIC reached Rs 1.90 lakh crore, which is 1.86 lakh crore more than the same period of the previous year to 1.90 percent.
However, the individual premium collection in February 2025 declined by 1.07 percent to 4,837.87 crore as against 4,890.44 crore in February 2024. A total of 4,898 policies were released under the group premium during this period, which is 13.53 percent higher than the 4314 policies of the previous year.
