iifl-logo-icon 1

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

LIC stock price up by more than 5% today

14 Jun 2024 , 06:44 PM

Life Insurance Corporation (LIC) shares rose more than 6% on the BSE on Friday (June 14), following news of the insurer’s entry into the health insurance market. 

At around 1.18 PM, LIC was trading 4.54% higher at Rs 1,047.80 per piece, against the previous close of Rs 1,002.30 on NSE. 

This spike comes after news that LIC intends to enter the health insurance market through a private health insurer. According to sources, LIC is planning to acquire one of the five private freestanding health insurance businesses.

In May, LIC Chairman Siddhartha Mohanty emphasised LIC’s potential in the health insurance business. Mohanty expounded on LIC’s strategic goals, saying, “Once the composite license is approved, LIC’s natural choice will be to enter the health insurance space.”

A composite license would allow insurers to provide comprehensive insurance alternatives by merging life, health, and savings into a single policy. This could result in lower premiums and a simpler claims process for customers.

Earlier this year, a legislative commission suggested the implementation of a composite license that would allow insurers to offer life, general, and health insurance through a single entity, with the goal of increasing insurance penetration in the country.

Mohanty explained that, while LIC lacks competence in other general insurances such as property and fire, the company does have experience in health insurance through its health fixed benefit products.

We have some experience in this area, although our products are fixed benefits rather than indemnity, like Mediclaim. We are looking into both organic and inorganic opportunities, including prospective acquisitions, to develop a foothold in the health insurance industry, he said.

For feedback and suggestions, write to us at editorial@iifl.com

For opening a demat account click on: https://www.indiainfoline.com/

For doing stock trading & investments, go to: https://ttweb.indiainfoline.com/trade/Login.aspx

For loans, go to: https://www.iifl.com/

Related Tags

  • Life Insurance Corporation
  • Life Insurance Corporation (LIC) share price
  • Life Insurance Corporation News
sidebar mobile


Read More
Knowledge Centerplus

Logo IIFL Customer Care Number
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

Knowledge Centerplus

Follow us on


2024, IIFL Securities Ltd. All Rights Reserved

  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.