Five state-run general insurance companies have a total exposure of Rs 347.64 crore, or 0.14 per cent of their total assets under management (AUM), in […]
Tag: LIC
SMBC Bank, Oaktree submit EoIs for IDBI’s strategic stake sale
Sumitomo Mitsui Banking Corporation Group (SMBC Bank) of Japan and Oaktree Capital Management are among those that have submitted expressions of interest (EoIs) for the […]
Government likely to get financial bids for IDBI Bank sale by September, DIPAM Secy says
Financial bids for IDBI Bank’s strategic sale is expected to be received by the government in September, said DIPAM Secretary Tuhin Kanta Pandey. Several global […]
IDBI Bank divestment process to complete in FY24: DIPAM Secy
The divestment process of IDBI Bank will complete in the fiscal year 2023-24, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey […]
LIC may look at composite licence after passage of Insurance Laws (Amendment) Bill
The country’s largest insurer LIC may take a call on composite licence clause after the passage of Insurance Laws (Amendment) Bill in Parliament, sources said. […]
Potential bidders seek tax benefits on IDBI’s losses
Potential IDBI Bank bidders have asked the government for tax benefits from the accumulated ₹45,000 crore losses to accrue to the acquiring entity in case […]
Govt extends deadline for IDBI Bank sale bid submission till January 7
The government has extended the deadline for IDBI Bank privatisation till January 7. The government had invited bids for its sale in October. The government […]
IDBI Bank to continue as ‘Indian private sector bank’ post strategic sale
IDBI Bank will continue to operate as an ‘Indian private sector bank’ after its strategic sale and the government’s residual 15 per cent stake in […]
ACRE offers to buy LIC’s Rs 3,400 crore Reliance Capital bonds
An Ares SSG Capital-backed asset reconstruction company (ARC) has given a binding offer to Life Insurance Corporation (LIC) to acquire its ₹3,400-crore Reliance Capital bonds, […]
Life insurers register 15 pc rise in new biz premium at Rs 24,916 cr in October
The new business premium income of India’s life insurance companies rose by 15.3 per cent to Rs 24,916.58 crore in October 2022, data from the […]