New Delhi [India], Launching new products and diversifying the mix of products focusing on digital transformation is one of the key focus areas of insurance company Life Insurance Corporation of India (LIC), according to a company regulatory filing. Said that she now "intends to concentrate on." Strategic Interventions to Maximize Market Share” Following is a list of its focus areas
LIC Chairperson Siddharth Mohanty said on Monday that last year it had focused on directional change in its product mix and increasing margins in the business. “We have more than doubled our stake in the non-equal business within our individual businesses,” Mohanty said. In a post-earnings statement, Mohanty said LIC now intends to focus on "strategic interventions" to maximize market share across categories. “At the same time, our sharp focus on various parameters that create better value for all stakeholders will continue.Separately, he said, “Important initiatives related to distribution channels and digital transformation are underway. In 2024-25, LIC is looking forward to this current year, "in which our topline growth trajectory will be back in focus." State-owned Life Insurance Corporation (LIC) is considering a foray into the health insurance sector and is currently assessing capacity acquisition possibilities, Economic Times reported on Tuesday morning, quoting Mohanty. According to the report, the move comes amid a proposal to allow composite insurance companies in the region "There is hope that composite licenses may be allowed by the Northeast government, and we have done some internal groundwork. While we have There is a shortage of experts in general insurance, we are interested in health insurance and are also looking at inorganic growth opportunities," LIC Chairman Siddharth Mohanty was quoted as saying in the report. Public sector insurer LIC (Life Insurance Company of India) Corporation) has meanwhile made a net profit.Of Rs 13,781.59 crore for the quarter ending March 2024. The company's net profit increased by 4.5 per cent from Rs 13,190.79 crore recorded in the same period last year. Life Insurance Corporation of India (LIC) is the fourth largest insurer. For the full financial year ending March 2024, the insurer posted a profit of Rs 40,676 crore, compared to Rs 36,397 crore in the previous financial year. LIC's board of directors yesterday recommended a final dividend of Rs 6 per share for financial year 2023.-24 Subject to shareholders' approval, earlier, an interim dividend of Rs 4 was declared and paid to the shareholders during the year, hence the total sum of interim and recommended final dividend was Rs 10 per share. Dividends are a reward that companies often provide. Although it is not mandatory, the Board of the Insurance Company has fixed July 19, 2024 as the "Record Date" for the purpose of ensuring eligibility of the members of the Corporation for the proposed final dividend. Investors who hold shares of that company on the record date will get the dividend.
LIC Chairperson Siddharth Mohanty said on Monday that last year it had focused on directional change in its product mix and increasing margins in the business. “We have more than doubled our stake in the non-equal business within our individual businesses,” Mohanty said. In a post-earnings statement, Mohanty said LIC now intends to focus on "strategic interventions" to maximize market share across categories. “At the same time, our sharp focus on various parameters that create better value for all stakeholders will continue.Separately, he said, “Important initiatives related to distribution channels and digital transformation are underway. In 2024-25, LIC is looking forward to this current year, "in which our topline growth trajectory will be back in focus." State-owned Life Insurance Corporation (LIC) is considering a foray into the health insurance sector and is currently assessing capacity acquisition possibilities, Economic Times reported on Tuesday morning, quoting Mohanty. According to the report, the move comes amid a proposal to allow composite insurance companies in the region "There is hope that composite licenses may be allowed by the Northeast government, and we have done some internal groundwork. While we have There is a shortage of experts in general insurance, we are interested in health insurance and are also looking at inorganic growth opportunities," LIC Chairman Siddharth Mohanty was quoted as saying in the report. Public sector insurer LIC (Life Insurance Company of India) Corporation) has meanwhile made a net profit.Of Rs 13,781.59 crore for the quarter ending March 2024. The company's net profit increased by 4.5 per cent from Rs 13,190.79 crore recorded in the same period last year. Life Insurance Corporation of India (LIC) is the fourth largest insurer. For the full financial year ending March 2024, the insurer posted a profit of Rs 40,676 crore, compared to Rs 36,397 crore in the previous financial year. LIC's board of directors yesterday recommended a final dividend of Rs 6 per share for financial year 2023.-24 Subject to shareholders' approval, earlier, an interim dividend of Rs 4 was declared and paid to the shareholders during the year, hence the total sum of interim and recommended final dividend was Rs 10 per share. Dividends are a reward that companies often provide. Although it is not mandatory, the Board of the Insurance Company has fixed July 19, 2024 as the "Record Date" for the purpose of ensuring eligibility of the members of the Corporation for the proposed final dividend. Investors who hold shares of that company on the record date will get the dividend.
