LIC's Strategic Move into Health Insurance

MUMBAI: In a significant development, Life Insurance Corporation (LIC) is in the final stages of discussions to acquire a stake in a health insurance company. According to CEO Siddhartha Mohanty, the deal, which will not constitute a majority stake, is expected to be finalized by the end of March. This move is part of LIC's strategy to integrate all financial solutions under one roof, expanding beyond its current offerings in life insurance and defined benefit health insurance products.

"Our discussions are at an advanced stage," Mohanty stated, highlighting the corporation's commitment to broadening its portfolio and enhancing its service offerings to meet the evolving needs of its customers.