Life Insurance Corporation of India (LIC) does not expect any further government stake sale in the immediate future, CEO R Doraiswamy said on Tuesday. According to reports from The Economic Times and ANI, Doraiswamy stated that the government has sufficient time to meet the mandated public shareholding requirement and that any further stake sale would be undertaken as per the government's decision. LIC was listed on the stock exchanges in May 2022 after the government sold a 3.5 per cent stake through an initial public offering, with the government currently remaining the majority shareholder. Speaking exclusively to ANI in Mumbai, Doraiswamy emphasized that "We do not expect any further offloading in the immediate future. But the government will follow the course as per the mandate given."
On LIC's equity investment strategy and plans to increase its stake in ICICI Bank, Doraiswamy said the insurer continuously reviews its holdings depending on market opportunities and cash-flow requirements. As reported by The Economic Times, he emphasized that LIC's investment decisions are guided by regulatory framework and the need to create long-term value. According to ANI, Doraiswamy explained that "We keep increasing and decreasing our stake in companies based on the opportunities available and the requirement of cash flow to manage our liabilities." He added that LIC's investment decisions are governed by regulatory framework regarding how much the company can hold in a company, with policyholder interest and capital safety remaining key considerations. On asset allocation and alternative investments, Doraiswamy said LIC looks at all possible investment opportunities based on regulatory framework governing insurance and policyholder fund safety. "Having a very long-term liability, safety of this capital, providing a predictable return which should be in the interest of all stakeholders is important," he said. The CEO expressed a positive view of the Indian equity market, stating that LIC looks at investments from a long-term perspective rather than reacting to short-term market movements, noting that current interest rate ranges provide opportunities for investing and locking in long-term returns.
Doraiswamy highlighted significant untapped potential in India's insurance market, particularly among underserved population sections. According to The Economic Times, he said LIC is working to reach every reachable person in the country by insurance protection through both offline and online channels as part of the government initiative. As reported by ANI, he emphasized that "The market is very big with potential for growing insurance protection in India." The company is also focusing on simplifying the claims process and reducing paperwork for policyholders, with plans to move towards a system where eligible customers would not need to undertake additional formalities for maturity claims. For maturity claims specifically, Doraiswamy said LIC is taking steps so that "our policyholders do not have to do anything. We check whether they are still connected and we disburse directly."
Outlining LIC's strategy for the next three to five years, Doraiswamy said technology, customer focus and greater contribution from protection and retirement-oriented products would be central to the company's growth. As reported by The Economic Times and ANI, he emphasized that the strategy relies on remaining technology-enabled and customer-focused, with contributions from protection and retirement savings funds driving growth momentum. The company is expanding its product offerings, including Platinum plans and term insurance products, to support the government's goal of achieving insurance for all by 2047. Doraiswamy noted that rising financial awareness, India's economic growth and an expanding distribution network would support wider insurance coverage and make the goal of achieving insurance for all by 2047 realistic.
