Mumbai: Public sector behemoth, Life Insurance Corporation of India (LIC) is in the final stages of acquiring a stake in a pure health insurance company and would be announcing a decision in the next two to three months.
Speaking to reporters at the insurer’s Q4FY25 earnings call, Siddhartha Mohanty, managing director and chief executive officer, LIC said, “We are in an advanced stage of discussions and expect to approach our Board for an approval in the next two to three months.”
Mohanty, while refused to disclose the quantum of stake, said that LIC has opted for internal deliberations to decide the quantum of investment. “There is no committee, and our internal team is handling it,” the LIC chief said.
The insurer registered a Profit after Tax (PAT) of Rs 48,151 crore for the year ended March 31, 2025 as compared to Rs 40,676 crore in the previous year, a rise of 18.38 per cent. The Board of Directors have recommended a final dividend of Rs. 12/- per share for the financial year 2024-25 subject to approval of shareholders.
LIC with its legacy investments in the stock market made gains of Rs 73000 crore from investments in the equity market in the financial year ended March 31, 2025, a 19 per cent rise from the previous financial year. It has invested Rs 1.85 lakh crore in the equity market in FY25, around 41 per cent higher compared to the previous year.
Speaking to FC, Mohanty said that LIC has taken several steps to improve persistency, the results of which will be reflected in next year’s 13th-month persistency. “Following the introduction of new product regulations, we have revamped our product suite and adjusted ticket sizes and premiums to further support persistency.”
This was Mohanty’s last press conference as his term is scheduled to end on June 7, 2025. He was appointed as chairman in April 2023 and was scheduled to retire on June 29, 2024. He was then re-designated as MD and CEO.
