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Life Insurance Corporation of India (<keyword id="19903588" type="General" weightage="20" keywordseo="LIC" source="keywords">LIC</keyword>) MD and CEO Siddhartha Mohanty has said that the corporation is looking to make fresh investments of around Rs 1.30 lakh crore in equities during the current financial year. During April-June FY25, the insurance behemoth made an investment of about Rs 38,000 crore in <keyword id="19907577" type="General" weightage="20" keywordseo="shares" source="keywords">shares</keyword> as against Rs 23,300 crore in the same period a year ago. LIC earned a profit of Rs 15,500 crore from its investments in equity markets during the first quarter. The profit from its investment was higher by 13.5 % quarter-on-quarter. "We are surely looking at the markets and price movements...we are looking to invest a good amount at least whatever we had invested in last financial year...LIC invested around Rs 1.32 lakh crore in FY'24," he said. The <keyword id="19913381" type="General" weightage="20" keywordseo="market" source="keywords">market</keyword> value of LIC's investment in stocks of various <keyword id="20027214" type="General" weightage="20" keywordseo="companies" source="keywords">companies</keyword> stood at around Rs 15 lakh crore at the end of June, he said. LIC has exposure in 282 companies through investment in their shares as of June 30, 2024. The <keyword id="20340200" type="General" weightage="20" keywordseo="assets-under-management" source="keywords">Assets Under Management</keyword> (<keyword id="20019621" type="General" weightage="20" keywordseo="AUM" source="keywords">AUM</keyword>) increased to Rs 53,58,781 crore as of June-end as compared to Rs 46,11,067 crore at the end of the same quarter the previous year, registering an increase of 16.22 %. Total investment grew by Rs 7,30,662 crore, from Rs 42,44,852 crore in March 2023 to Rs 49,75,514 crore as of March 31, 2024. The total equity investment portfolio constitutes Rs 12,39,740 crore as against Rs 8,39,662 crore in 2022-23, whereas other investments constitute Rs 37,35,774 crore as against Rs 34,05,190 crore in 2022-23. For the June quarter 2024, LIC reported a 10% increase in net profit to Rs 10,461 crore as against Rs 9,544 crore in the year-ago period. Total income increased to Rs 2,10,910 crore during the latest June quarter as against Rs 1,88,749 crore in the year-ago period. Total premium income for the quarter increased 16 % to Rs 1,13,770 crore as compared to Rs 98,363 crore in the same quarter a year ago.

LIC to invest around Rs 1.30 lakh crore in stock market in FY25

New Delhi: Shares of <keyword id="19903587" type="General" weightage="20" keywordseo="Life-Insurance-Corporation-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Life Insurance Corporation of India" meta.hostid="261" meta.entityid="Life Insurance Corporation of India">Life Insurance Corporation of India</keyword> (<keyword id="6367143" type="General" weightage="100" keywordseo="LIC" source="Orion">LIC</keyword>) climbed 3 per cent on Friday after the company reported a 10 per cent rise in net profit to Rs 10,461 crore in the June 2024 quarter. The stock jumped 3 per cent to Rs 1,159.60 on the <keyword id="19895774" type="General" weightage="20" keywordseo="BSE" source="keywords">BSE</keyword>. At the NSE, it climbed 3 per cent to Rs 1,160 apiece. The state-owned life insurance behemoth had a net profit of Rs 9,544 crore in the year-ago period. The total income increased to Rs 2,10,910 crore during the latest June quarter as against Rs 1,88,749 crore in the year-ago period, LIC said in a regulatory filing on Thursday. <keyword id="22725292" type="General" weightage="20" keywordseo="lic-md" source="keywords">LIC MD</keyword> and CEO Siddhartha Mohanty said the Assets Under Management (AUM) increased to Rs 53,58,781 crore as on June 30, as compared to Rs 46,11,067 crore at the end of same quarter previous year, registering an increase of 16.22 per cent. The total premium income for the quarter increased by 16 per cent to Rs 1,13,770 crore, as compared to Rs 98,363 crore in the same quarter a year ago. Asked about entry into the health insurance business, he said, LIC is exploring the option of picking up majority stakes in a standalone health insurance company.

LIC shares climb 3 percent after earnings announcement

Shares of state-owned behemoth Life Insurance Corporation (<keyword id="19903588" type="General" weightage="20" keywordseo="LIC" source="keywords">LIC</keyword>) have outperformed rivals like <keyword id="20079495" type="General" weightage="20" keywordseo="HDFC-Life" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Life" meta.hostid="261" meta.entityid="HDFC Life">HDFC Life</keyword> and <keyword id="21278696" type="General" weightage="20" keywordseo="ICICI-Prudential-Life" source="keywords">ICICI Prudential Life</keyword>, as it placed bets on India's growth sectors, including infrastructure, while the private sector concentrated its bets on tech, consumer and consumer-related <keyword id="19910880" type="General" weightage="20" keywordseo="BFSI" source="keywords">BFSI</keyword> companies. LIC's stock has gained nearly 79% from Rs 620 on June 18, 2023, to Rs 1,109.15 at the closing on Tuesday, according to stock exchange data. In contrast, HDFC Life gave a negative return with Tuesday's closing price of Rs 646.55 on the BSE as compared to Rs 666.55 a year back. ICICI Prudential Life Insurance Co delivered a return of 12%, considering its stock price rise from Rs 582 on June 18, 2023, to Rs 654.10 on June 16, 2024. Over the past one year, <keyword id="19898108" type="General" weightage="20" keywordseo="SBI" source="keywords">SBI</keyword> Life Insurance shares have risen from Rs 1,314 to Rs 1,621.20, delivering a return of 23%. Capital market analysts said <keyword id="19935977" type="General" weightage="20" keywordseo="insurance-companies" source="keywords">insurance companies</keyword> make money in two ways - charging premiums for policies and then investing the premiums into assets. It is the latter that generates the bigger delta in profits, thus impacting value creation and managing risks. Global majors, including Warren Buffet-owned Berkshire Hathaway, have been successful due to their ability to make superior investments. Most Indian insurance companies are yet to capitalise on the emergence of the country's <keyword id="19997284" type="General" weightage="100" keywordseo="infrastructure-sector" source="keywords">infrastructure sector</keyword>, analysts said. Indian insurance companies have concentrated investments in the BFSI, IT, and consumer sectors - all of which have been underperformers in the recent past. Only 8-10% of their investments are in the infrastructure sector. This is far less when compared to global standards. Large global insurance companies -- such as Allianz, Nippon Life Insurance, and Metlife, and other insurers like Berkshire Hathaway -- have much larger exposure ranging from 15 to 30% to the infrastructure sector, analysts noted. Over the past few years, global insurers have been increasingly considering infrastructure investments as 'core' investments as the stable and long-term cash flows of infrastructure assets naturally align with the liabilities of insurers. Additionally, infrastructure assets have defensive characteristics of high barriers to entry, strong pricing power, structural growth, and predictive cash flows, and listed infrastructure can provide investors with inflation-protected income and solid capital growth. <h2>Infra sector outperforming all</h2>For India, a strong government focus on the sector with large spending, supporting initiatives and encouraging policies, and improving governance has helped the infrastructure industry has come of age. This has helped the infra sector to outperform all other sectors, according to analysts. They said the high focus on retail loans, and the strategic reluctance to look at infrastructure for growth opportunities is proving detrimental for the shareholders of such companies. SBI, with its higher exposure to the infrastructure sector, has seen its stock gain 48% in the year (from Rs 592 to Rs 880.95 on Tuesday), while those of its private counterparts HDFC Bank, Kotak Mahindra Bank, ICICI Bank and Axis Bank have gained only in the range of (-)3%to 24%. Kotak and HDFC Banks with negligible exposure to the infrastructure sector are the worst performing, with their shares giving a negative return, stock exchange data showed. Kotak Mahindra Bank shares were at Rs 1,895 on June 18, 2023, and closed at Rs 1,805.20 on Tuesday. HDFC Bank closed at Rs 1,619.20 on BSE on Tuesday, down from Rs 1,679 a year back.

Exposure to India's infra sector helps LIC, SBI outshine peers

<ul><li>Analysts believe that a potential acquisition will improve lending capability and expand branch footprint <keyword id="46013" type="General" weightage="80" keywordseo="kotak-mahindra-bank" source="Orion">Kotak Mahindra Bank</keyword>.</li><li>Market unclear on such a large acquisition would play out if it leads to a merger eventually.</li><li>The end game should be full acquisition and amalgamation of <keyword id="6357560" type="General" weightage="80" keywordseo="idbi-bank" source="Orion">IDBI Bank</keyword>.</li></ul> <keyword id="6368369" type="General" weightage="50" keywordseo="life-insurance-corporation-of-india" source="Orion">Life Insurance Corporation of India</keyword> along with the government are looking to divest 60.72% in <keyword id="67881" type="General" weightage="100" keywordseo="idbi" source="Orion">IDBI</keyword> Bank. The process has already been kicked off and this will be a test case for the government as it will give it a blueprint for future divestments. So far media reports have speculated that Kotak Mahindra Bank was in the fray, but now <keyword id="3313307" type="General" weightage="40" keywordseo="nomura-global-markets-research" source="Orion">Nomura Global Markets Research</keyword>, a Japanese investment bank, has come out with a report that projects various scenarios of the potential acquisition and also explains how Kotak Mahindra Bank stands to gain if it acquires the bank. For starters, a possible IDBI acquisition could take KMB’s loan book to Rs 5 trillion plus along with a CASA ratio of 50%, which would be ahead of industry’s. The acquisition would also result in a sharp expansion in its branch footprint. Analysts at <keyword id="6354527" type="General" weightage="80" keywordseo="nomura" source="Orion">Nomura</keyword> believe that the acquisition would enhance its lending capability as the loan to deposit ratio will fall to 78% from 85% in Q1FY24. Analysts at Nomura have painted different scenarios of any potential transaction which will entail acquisition of a 61% stake in IDBI Bank. The first scenario could be a full cash-based transaction while the second would be stock-based and the third could be a hybrid one – entailing cash plus stock. According to the report, “While a cash-based acquisition is strongly EPS and RoE accretive, a stock-based acquisition is BVPS (book value per share) accretive (while being RoE dilutive). In all scenarios, the end-game for KMB should be the full acquisition and amalgamation of IDBI Bank, in our view.” The Japanese investment bank is of the view that scenarios which involve cash are preferable as they would bump-up to RoEs, which are currently depressed due to KMB’s low leverage of ~6x vs 8-9x for large private banks. But this deal may not be without its share of complications, says Nomura. The <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> has incrementally not been forthcoming in terms of allowing banks to pick-up stakes in other BFSI businesses, says the report. Therefore, it is unclear how such a transaction would be allowed. The central bank could make an exception Kotak Mahindra Bank is to be eventually merged with IDBI Bank. A merger also is not without its share of complication, even if it is allowed. There is no certainty on how this can impact the share price of Kotak Mahindra Bank even if the merger leads to better financial ratios.

What if Kotak Mahindra Bank acquires IDBI Bank, asks Nomura

Financial markets regulator <keyword id="6355630" type="General" weightage="20" keywordseo="securities-and-exchange-board-of-india" source="Orion">Securities and Exchange Board of India</keyword> (<keyword id="35210" type="General" weightage="20" keywordseo="sebi" source="Orion">SEBI</keyword>) has banned three individuals and two entities (in total five) from securities markets in a case of front-running trades in <keyword id="17271372" type="General" weightage="20" keywordseo="life-insurance-corporation-of-india-" source="Orion">Life Insurance Corporation of India.</keyword> The practice by dealers of dealing with advance information provided by their brokers and investment analysts, before their clients have been given the information is known as front running. Of the individuals was <keyword id="6367143" type="General" weightage="20" keywordseo="lic" source="Orion">LIC</keyword>'s employee Yogesh Garg since November 08, 2011. The rest are Sarita Garg, Kamlesh Agarwal, Ved Prakash HUF, and Sarita Garg HUF. Also, SEBI impounded Rs 2.44 crore in total from their accounts. SEBI's interim order on Thursday said the entities shall cease and desist from, directly or indirectly, engaging in any fraudulent, manipulative or unfair trade practice including front running thereby committing or causing a violation of any provisions under relevant laws. "...it is prima facie concluded that Noticees 1 to 5 (five entities) were involved in a scheme to front run the trades of the Big Client and therefore they are prima facie jointly and severally liable for the proceeds generated from the front running trades," the SEBI order read. It was prima facie observed that Yogesh Garg, being a dealer in LIC, was in possession of non-public information regarding impending orders of LIC and he acted as an information carrier. SEBI concluded that these five entities had a distinct role to play in the fraudulent scheme devised for front-running the orders of LIC. The entities are now directed to provide a full inventory of all assets held in their name, whether movable or immovable or any interest or investment or charge on any of such assets, including details of all bank accounts, <keyword id="104763" type="General" weightage="20" keywordseo="demat" source="Orion">Demat</keyword> accounts and mutual fund investments, immediately but not later than 15 days. Against that backdrop, SEBI advised LIC to review its processes and take all necessary additional measures to prevent, detect, and remediate any fraudulent, manipulative or unfair trade practices by its employees in relation to its investment activities. .SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/filmfare-awards-2023-gangubai-kathiawadi-makes-a-clean-sweep/slidelist/99833037.cms">Filmfare Awards 2023: Gangubai Kathiawadi makes a clean sweep</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/indian-stock-indices-hold-steady-as-investors-monitor-earnings-wipro-is-top-gainer/articleshow/99834835.cms">Indian stock indices hold steady as investors monitor earnings; Wipro is top gainer</a>

SEBI bans five entities in LIC front running case, impounds ₹2.44 crore

<keyword id="6355199" type="General" weightage="80" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> maintained its highest ranking among Indian private sector companies in the latest Global 500 list published by Fortune for 2022. <keyword id="10926" type="General" weightage="100" keywordseo="reliance" source="Orion">Reliance</keyword> Industries improved its rank by 51 places to 104 from its previous year's rank of 155. <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> has nine companies in the Fortune's Global 500 list -- five from the public sector, and four from the private sector. Only the debutant <keyword id="6368369" type="General" weightage="50" keywordseo="life-insurance-corporation-of-india" source="Orion">Life Insurance Corporation of India</keyword> -- a public sector company, which came out with an <keyword id="6354763" type="General" weightage="50" keywordseo="ipo" source="Orion">IPO</keyword> earlier this year -- was ranked higher than Reliance at 98 among Indian corporates. It is the 19th year that <keyword id="6484187" type="General" weightage="50" keywordseo="ril" source="Orion">RIL</keyword> has been a part of the Fortune 500 list - much longer than the other private sector companies in India. The Fortune Global 500 list ranks companies by total revenues for their respective fiscal years ended on or before March 31. Reliance Industries closed FY22 with record high consolidated revenues of Rs 7.92 lakh crore, up 47 per cent, and EBITDA of Rs 1.25 lakh crore, up 28.8 per cent Y-o-Y, with each of the O2C, retail and digital services businesses posting all-time high revenues. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/markets-expected-to-open-higher-after-a-6-session-gaining-streak/articleshow/93336524.cms">Markets expected to open higher after a 6-session gaining streak</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rbi-and-us-fed-policies-are-more-similar-than-you-think/articleshow/93329850.cms">RBI and US Fed policies are more similar than you think</a>

LIC ranks ahead of Reliance in Fortune's Global 500 list

Asian life insurance giant, the <keyword id="6368369" type="General" weightage="50" keywordseo="life-insurance-corporation-of-india" source="Orion">Life Insurance Corporation of India</keyword> on Thursday said its Indian Embedded Value (<keyword id="3408788" type="General" weightage="80" keywordseo="iev" source="Orion">IEV</keyword>) as on March 31, 2022 was Rs 541,942 crore. The embedded value in the case of a life insurance company is the current value of the company's future profits. According to <keyword id="6367143" type="General" weightage="100" keywordseo="lic" source="Orion">LIC</keyword> officials, the IEV has been determined at Rs 541,492 crore (Rs 5,414.9 billion) as compared to Rs 95,605 crore (Rs 956 billion) as on March 31, 2021 and Rs 539,686 crore (Rs 5,397 billion) as on September 30, 2021. Officials said the volatility in the stock market has impacted the LIC's investment market value to the tune of Rs 40,000 crore which, in turn, had its impact on IEV. According to the officials, the Rs 40,000 crore reduction in the market value of its investment was in both equity and debt segments of the market. The IEV as of September 30, 2021 was significantly higher than the IEV of March 2021 due to the bifurcation of fund that was carried out by LIC pursuant to changes in the <keyword id="7922368" type="General" weightage="20" keywordseo="lic-act" source="Orion">LIC Act</keyword> during the FY 2021-22. The LIC Board on January 8, 2022 had approved bifurcation of the single fund into separate Participating and Non-Participating funds and the effect of such bifurcation has been reflected in the Financials as at March 31, 2022. The life insurer had engaged <keyword id="14454797" type="General" weightage="50" keywordseo="milliman-advisors-llp" source="Orion">Milliman Advisors LLP</keyword> for arriving at the embedded value. On Thursday the LIC's Board accepted <keyword id="1417479" type="General" weightage="50" keywordseo="milliman" source="Orion">Milliman</keyword>'s IEV report. LIC Chairman M.R. Kumar said the valuation of IEV took some time to get completed. On the LIC's decision to publish the embedded value once in six months - in March and September - Kumar said it is in line with the industry practice. Further, determining the embedded value of a life insurance company of LIC size with about 28 crore policies is a time consuming and elaborate process, officials added. The Value of New Business (VNB) for year ended March 31, 2022 has been determined to be Rs 7,619 crore (Rs 76.19 billion) as compared to Rs 4,167 crore (Rs 41.67 billion) for the year ended March 31, 2021. Also, the VNB for the six-month period ended September 30, 2021 was Rs 1,583 crore (Rs 15.83 billion). The VNB margin, for the year ended March 31, 2022 is 15.1 per cent as compared to 9.9 per cent for the year ended March 31, 2021. Officials said the VNB margin went up owing to change in business mix like the group business going up to 29 per cent from 24 per cent. The ROEV (Return on embedded value) for March 21, 2022 is 11.9 per cent as compared to 36.9 per cent for March 2021. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/iamai-dissolves-blockchain-and-crypto-assets-council-to-no-longer-represent-crypto-exchanges/articleshow/92880182.cms">IAMAI dissolves Blockchain and Crypto Assets Council, to no longer represent crypto exchanges</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/chitra-ramakrishna-arrested-by-ed-and-sent-to-a-four-day-remand/articleshow/92879523.cms">Chitra Ramakrishna arrested by ED and sent to a four-day remand</a>

LIC's embedded value is estimated at Rs 5.4 lakh crore

State-run insurance major <keyword id="6368369" type="General" weightage="50" keywordseo="life-insurance-corporation-of-india" source="Orion">Life Insurance Corporation of India</keyword> (<keyword id="6367143" type="General" weightage="100" keywordseo="lic" source="Orion">LIC</keyword>) reported a consolidated <keyword id="6431508" type="General" weightage="20" keywordseo="net-profit" source="Orion">net profit</keyword> of Rs 2,409 crore during Q4FY22, down 17 per cent year on year from the same quarter of previous fiscal. The insurance company's consolidated income from net premium income during the quarter rose nearly 18 per cent to Rs 144,158 lakh crore, the earnings report shared with the exchanges showed. This is the first earnings results reported by the company after it went public on the exchanges earlier this month. It has recommended a dividend of Rs 1.5 per equity share for FY22, which is subject to approval of shareholders in the annual general meeting, the filing said. The shares of the much-awaited LIC made a weak listing on the stock exchanges on May 17. It listed on the stock exchanges at a discount of 8.62 per cent at Rs 867, from its IPO issue price of Rs 949. On Monday closing, it traded at Rs 836. The initial public offering of the company had, however, received robust response from investors as the insurance major's offer has been subscribed 2.89 times. It received bids for 46.77 crore equity shares against IPO size of 16.2 crore equity shares. The portion set aside for policyholders had been subscribed 5.97 times, employees bid 4.31 times the allotted quota, and retail investors 1.94 times, while the reserved portion of qualified institutional buyers had booked 2.83 times and that of non-institutional investors 2.8 times. The government had brought down the issue size from 5 per cent to 3.5 per cent. The <keyword id="14069986" type="General" weightage="20" keywordseo="IPO-valued-LIC" source="Orion">IPO valued LIC</keyword> at Rs 6 lakh crore. To attract a large number of investors, the policyholders were offered a Rs 60 discount, while for retail investors, the discount was at Rs 45.

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LIC to invest around Rs 1.30 lakh crore in stock market in FY25

PTI

LIC shares climb 3 percent after earnings announcement

PTI

Exposure to India's infra sector helps LIC, SBI outshine peers

PTI

What if Kotak Mahindra Bank acquires IDBI Bank, asks Nomura

BI India Bureau

SEBI bans five entities in LIC front running case, impounds ₹2.44 crore

ANI

LIC ranks ahead of Reliance in Fortune's Global 500 list

IANS

LIC's embedded value is estimated at Rs 5.4 lakh crore

IANS

LIC reports a 17% decline in the net profits as compared to same quarter in the last fiscal

IANS

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