Company Overview of Life Insurance Corporation of India
Life Insurance Corporation of India provides life insurance products in India and internationally. The company offers insurance, pension, unit, special, and micro insurance plans; groups schemes, withdrawn plans, and health plans. It provides its products through its branch or divisional offices, and agents. The company was founded in 1956 and is based in Mumbai, India. It has branch, divisional, zonal, and satellite offices in India.
Jeevan Bima Marg
Founded in 1956
Key Executives for Life Insurance Corporation of India
Managing Director, Executive Director, Member of Executive Committee, Member of Building Advisory Committee and Member of Social Security Committee
Managing Director, Executive Director of Corporate Communication, Director, Member of Risk Management Committee and Member of Policyholder Protection Committee
Managing Director, Chief Executive Officer of Housing Finance, Managing Director of Housing Finance, Director and Member of Policyholder Protection Committee
Chief Executive of Lichfl-Central Office Mumbai and Managing Director of Lichfl-Central Office Mumbai
Chief Executive Officer of Fgn-Bahrain and Managing Director of Fgn-Bahrain
Compensation as of Fiscal Year 2015.
Life Insurance Corporation of India Key Developments
Investors Eye National Securities Depository And Central Depository Services
Nov 23 15
National Stock Exchange and Bombay Stock Exchange are in an advanced stage of talks with investors for selling their shareholdings in National Securities Depository Ltd (NSDL) and Central Depository Services India Ltd (CDSL), respectively. NSE has around 25% stake in NSDL, while BSE's holding in CDSL is around 54%. The deadline for cutting the stake to at least 24%, set by stock market regulator Securities and Exchange Board of India (SEBI), ended last month. Both exchanges are in separate talks with institutional investors, including Life Insurance Corporation of India (LIC), to sell their holdings. "We are talking with a few and (are) in an advanced stage for diluting about 1%," said a NSE spokesperson. The one for BSE declined to comment.
Nomura Plans To Sell Stake In Mutual Fund JV With LIC
Oct 21 15
Nomura Holdings, Inc. (TSE:8604) intends to sell its stake in its mutual fund joint venture with Life Insurance Corporation of India (LIC). Nomura Holdings has sounded out Life Insurance Corporation about its intention to exit LIC Nomura Mutual Fund Asset Management Company Ltd.as the fund house has struggled to withstand the stiff competition in the domestic mutual fund industry. LIC and LIC Housing Finance Ltd. (NSEI:LICHSGFIN) may buy out Nomura's stake in the asset management company, said a person familiar with the development. Nomura Holdings may have to sell its stake at a loss to the price it paid to acquire the stake, said a person familiar with the development. In response to an Economic Times query on the matter, a Nomura spokesperson said, "no comments at this point in time." A senior LIC official who did not want to be identified said, "There was an option for Nomura to part ways after three years and they are exercising that option now that the term has got over. Explaining details of the deal, the executive added, “The proposal will first be cleared by LIC Nomura board and then it will come to LIC board." Life Insurance Corporation has initiated talks with public sector banks to sell the 35% stake held by its Japanese partner Nomura in its mutual fund arm, sources said.
Piramal Enterprises To Acquire Control Of IL&FS
Sep 10 15
The investment committee of Life Insurance Corporation of India disclosed that Piramal Enterprises Limited (BSE:500302) is within striking distance of taking control of Infrastructure Leasing & Financial Services Limited (IL&FS). The IL&FS board discussed the contours of the proposed deal a few weeks ago. As per the plan, Piramal will carve out its financial services business and merge it with IL&FS in an all stock deal to create a $2.5-billion company, said two people with direct knowledge of the development. The Piramal board is slated to meet soon to take up the proposal.
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