The Bengaluru-based company offers innovative solutions to simplify products and claim settlement.

Last month, the insurance behemoth completed the acquisition of 51 per cent controlling stake in IDBI Bank, marking the entry of more than 60 years old state-owned insurer into the banking space.

The SBI life Insurance stock rose up to 5.08% to 603 level intra day compared to its previous close of 573.85 on the BSE.

The company will sell life, health and general insurance in India where the insurance sector is booming. Its rivals Paytm and Flipkart are already working towards making their presence stronger in the insurance space.

\"We will look at their (LIC's) business plan (post acquisition of 51 per cent stake in IDBI Bank) and then decide on reduction of its stake in IDBI Bank (to 15 per cent),\" says IRDAI Chairman SC Khuntia

Insurance Regulatory and Development Authority of India has made it mandatory for car and bike buyers to purchase at least three years of third-party insurance for cars and at least five years of third-party insurance for bikes.

The approval of the deal makes LIC a majority holder in the bank. As per the proposal, IDBI Bank will issue preferential shares to LIC to raise money.

The government's attempt to sell Air India has failed but its broad public asset management strategy is showing results.

Department of Economic Affairs Secretary Subhash Chandra Garg said that since the combined shareholding of both the government and LIC would be over 90 per cent, and that public shareholding is too low, an open offer might not be on the cards.

Before you select your insurance policy, go through these 10 situations that can put your insurance claim in jeopardy.

Under Sebi's takeover code, if a company acquires more than 25 per cent in another listed company, it has to make an open offer to minority shareholders to buy at least 26 per cent more in the target firm.

Life Insurance Corporation's talks to acquire the ailing IDBI Bank amounts to throwing good money after bad. The nation's largest insurer has decided to acquire a majority stake in the hugely loss-making IDBI Bank, possibly under government pressure. Watch this video where BusinessToday.in Editor Rajeev Dubey explains why LIC's decision to buy majority stake in IDBI Bank is not a wise choice.

IDBI Bank will be a burden on LIC. Out of its total outstanding loans of Rs 1.99 lakh crore, it has already recognised gross NPAs worth Rs 55,588 crore while it has also provisioned for bad loans worth Rs 26,902 crore.

Vijay Mahajan says his immediate goal at the foundation is about ensuring that the foundation reaches its full potential but the long-term goal is to use RGF to establish programmes and activities built around its founding values, which are really the constitutional values of India.