Life Insurance Corporation of India (LIC) logo. Representational image
| Photo Credit: Reuters
The Life Insurance Corporation of India (LIC) board is likely to announce the decision to buy stake in a health insurer by the end of FY25, according to MD CEO of LIC Siddhartha Mohanty.
“Discussion is going on [and it is] at a final stage. It is a natural choice for LIC to be in health insurance,” he said.
“Very shortly, I think all things will be finalised within this financial year. I am very much hopeful that within this financial, before 31st March, some decision can be taken,” Mr. Mohanty said, speaking on the sidelines of the 25th Global Conference of Actuaries at Mumbai on Match 18.
While he did not disclose the name of the company, he said that LIC would not hold a majority stake. The decision is subject to regulatory approval, Mr. Mohanty added.
Mr. Mohanty statement assumes significance as he had earlier said that a stake purchase would not be feasible in the current fiscal in the Q3 earnings call.
Talks of such an acquisition have been in the works for several months, but there is yet to be a firm commitment on a minority stake acquisition of any health insurer.
Published – March 18, 2025 03:12 pm IST
