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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The state-owned insurer has been using the surplus in its non-participating policy pool to boost its bottom line, with little real change in its financials.
On 11 August, the Life Insurance Corp. of India stock rose 5% intra-day, reacting to the state-owned insurer’s first quarter results of the 2023-24 fiscal announced the previous evening. In it, the company reported that its net profit for the April-June period was up 14-fold over the corresponding period in the previous fiscal, to Rs 9,544 crore.
This run-up in profit isn’t a one-off. For the financial year 2022-23, LIC’s first as a listed entity, the insurer posted a profit of Rs 35,997 crore, as against Rs 4,043 crore in the previous year. In just the March-ended fourth quarter, the …
A mix of favourable policies and high-rolling consumers in the Middle East is drawing a wide array of companies to set up shop in the region
Restrictive regulations and the lack of an ESG strategy have largely kept India’s biggest investor away from green investments.
With three tech-focused firms getting the regulator’s approval to venture into life insurance, it is hoped competition will heat up in a sector that has remained largely stagnant for over a decade.
