Kathmandu. Indian government company Life Insurance Corporation of India (LIC India) is going to enter the health insurance sector soon. For this, LIC India is going to buy a stake in a health insurance company.<\/p>\n
LIC Managing Director and Senior Executive Officer Siddharth Mohanty informed that the company may announce the acquisition of a stake in a standalone health insurance company by March 31. However, he did not want to disclose the name of the company. \u201cWe have a plan and the final stages of work are underway for the agreement to buy the stake in that company.\u201d<\/p>\n
Entering health insurance is a natural plan for LIC. \u201cIt takes time to get approval from the regulatory body,\u201d Mohanty said, \u201cso a decision on this matter will be taken before March 31.\u201d <\/p>\n
Currently, there are seven standalone health insurance companies in the Indian market. These include Star Health & Allied Insurance, Niva Bupa Health Insurance, Care Health Insurance, Aditya Birla Health Insurance, Manipal Cigna Health Insurance, Narayan Health Insurance and Galaxy Health Insurance. <\/p>\n
LIC will buy a stake in one of these seven companies. Mohanty has made it clear that the majority stake in the health insurance company will not be acquired initially. <\/p>\n
Earlier, LIC had said that it would start the health insurance business in the first quarter of fiscal year 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. Indian government company Life Insurance Corporation of India (LIC India) is going to enter the health insurance sector soon. For this, LIC India is going to buy a stake in a health insurance company. LIC Managing Director and Senior Executive Officer Siddharth Mohanty informed that the company may announce the acquisition of a stake […]<\/p>\n","protected":false},"author":16,"featured_media":214743,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45044,45159],"tags":[],"class_list":["post-245785","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international-news-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/245785","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=245785"}],"version-history":[{"count":0,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/245785\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/214743"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=245785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=245785"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=245785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}