According to reports, the largest life insurer of India was in conversation with Manipalcigna’s health insurance to pick up a substantial interest. | Photocredit: Dado Ruvic
Life Insurance Corporation of India (LIC) is waiting for changes in insurance instructions, so that it can become a composite insurance company and undertakes a health insurance policy instead of buying a substantial interest in an independent health insurer.
The company, in a legal submission in March 2025, said it is still in advanced conversations and no binding agreement has been concluded for health insurance.
According to reports, the largest life insurer of India was in conversation with Manipalcigna’s health insurance to pick up a substantial interest.
To a specific question about the status from LIC’s Exchange to health insurance, Roraiswamy, CEO & MD said: “We have viewed several options and they still remain available for us …
“We are also waiting for the changes to the regulations and the articles of association … We will evaluate all options before we have a final call about it.”
The LIC -Chef noted that the insurer also expands its options for choosing the goal company, even if he is waiting for the changes that will probably take place in the future in the insurance rules.
“For us to find health insurance, we do not have to immediately sell health insurance products. We wanted a strategic interest in a health insurance company … We, as an investor, can look very much at an investment company for investments.
“…. we may have to take special permission from the regulator to take an interest higher than the regulatory limits according to the investment regulations of Irdai,” said Doraiswamy.
Optional
He noted that if Composite Insurance becomes a reality and LIC decides to become a composite insurer, it can start its own health insurance products to market. Until such a time, having a strategic interest in a health insurer is an option that is very available to the company.
Doraiswamy noted that if Irdai allows a composite insurance policy, LIC -Council and the shareholders will accept a call or the company will continue as a life insurance company or that it wants to change or change it to a composite company and also one of the forms of general insurance activities.
Published on August 7, 2025
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