LIC To Acquire Stake In Health Insurer In 2-3 Months: CEO
Mohanty, while refused to disclose the quantum of stake, he said that LIC has opted for internal deliberations to decide the quantum of investment. “There is no committee, and our internal team is handling it,” the LIC chief said.
Mumbai: Public sector behemoth, Life Insurance Corporation of India (LIC) is in the final stages of acquiring a stake in a pure health insurance company and would be announcing a decision in the next two to three months.
Speaking to reporters at the insurer’s Q4FY25 earnings call, Siddhartha Mohanty, managing director and chief executive officer, LIC said, “We are in an advanced stage of discussions and expect to approach our Board for an approval in the next two to three months.”
Mohanty, while refused to disclose the quantum of stake, he said that LIC has opted for internal deliberations to decide the quantum of investment. “There is no committee, and our internal team is handling it,” the LIC chief said.
The insurer registered a Profit after Tax (PAT) of Rs 48,151 crore for the year ended March 31, 2025 as compared to Rs 40,676 crore in the previous year, a rise of 18.38 per cent. The Board of Directors have recommended a final dividend of Rs. 12/- per share for the financial year 2024-25 subject to approval of shareholders.
Speaking to FC, Mohanty said that LIC has taken several steps to improve persistency, the results of which will be reflected in next year’s 13th-month persistency. “Following the introduction of new product regulations, we have revamped our product suite and adjusted ticket sizes and premiums to further support persistency.”
