LIC refutes claims that it wants to acquire private health insurer

LIC clarified that it currently has no plans to enter the health insurance market through acquisition, contrary to recent reports. \r

The state-owned insurer emphasized that while it continually evaluates strategic opportunities, including partnerships and investments for business expansion, no formal proposal for acquiring a health insurance entity has been initiated. LIC's statement follows speculation prompted by a media report suggesting its interest in acquiring a private health insurer in India. \r

The insurer remains focused on maximizing market share and enhancing stakeholder value, reaffirming its dominant position with 58.87% market share in first-year premium income and assets under management of Rs 51.21 lakh crore as of March 2024.