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 The company offers insurance, pension, unit, special, and micro insurance plans; groups schemes, withdrawn plans, and health plans.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 and Executive Director
Chief Executive of Pension Fund
Chief Executive of JBS AMC - Central Office
Compensation as of Fiscal Year 2014.
Life Insurance Corporation of India Key Developments
CBI Reportedly Plans To Divest Stake In IL&FS
Aug 1 14
Central Bank of India (BSE:532885) (CBI) seeks to divest 9.846 million shares (8.34%) of Infrastructure Leasing and Financial Services Limited (IL&FS) to raise about INR 8.6 billion, sources told FE. CBI is in the process of selecting an investment banker, with SBI Capital Markets among those in the fray. "We had bought the shares at the face value INR 10 and, now, the valuation we expect is close to INR 870 per share," a CBI senior official said. He added that CBI planned to sell 4% of its stake to Life Insurance Corporation of India for INR 5.81 billion.
HP’s Plan To Sell MphasiS Stake May Take Time
Jul 4 14
Hewlett-Packard Company (NYSE:HPQ) (HP) may sell stake in MphasiS Limited (BSE:526299). According to senior official close to the matter, HP’s plan to sell 60.49% stake in MphasiS will take more time, as possible buyers including private equity players and IT-BPO service companies do not seem to be very keen. According to the news report, HP has approached bankers in order to sell its stake worth INR 53.7 billion. According to the report, HP spokesperson said the company ‘does not comment on rumor or speculation.’ A senior executive stated, “HP's initial plan was to take its stock holding in Mphasis to 90%, get it de-listed and leverage it more for its own outsourcing requirements.” Baring Private Equity Partners (India) Ltd., Life Insurance Corporation of India, Bajaj Allianz Life Insurance Company Limited, The India Fund, Inc. (NYSE:IFN), and Aberdeen Global -Indian Equity Fund, together own around 30% stake in MphasiS. Mphasis share price rose 3.65% on the Bombay Stock Exchange on July 2, 2014.
Life Insurance Corporation of India Launches New Online Term Plan
May 23 14
Life Insurance Corporation has announced that it has launched an online term plan. Term insurance plans are pure protection plans where the sum assured is paid on the death of a policyholder, with no benefits to be paid on maturity of a policy. They are much cheaper when bought online, as no commission has to be paid to agents.
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