‘Move to hike FDI limit will not affect LIC’

June 19, 2013 11:05 pm | Updated 11:05 pm IST - THRISSUR:

Any increase in foreign direct investment (FDI) in the insurance sector would not affect Life Insurance Corporation of India (LIC), current-in-charge chairman T. Thomas Mathew said. He was responding to a question at a press conference here on how the LIC viewed the move to raise FDI in the insurance sector from 26 per cent to 49 per cent.

LIC was not bothered about the FDI in the insurance sector. Its market share now was 83 per cent. Twenty-three private companies hold the rest.

He said the corporation would soon introduce new health insurance and pension products. “Clearance of the Insurance Regulatory and Development Authority (IRDA) is awaited in this regard,” he said. Mr. Mathew said 20 mini offices would be opened in Kerala in 2013 to widen operations.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.