Life Insurance Corporation of India (LIC) is preparing to enter the health insurance market by acquiring one of five private standalone health insurance companies, according to sources cited by Livemint. LIC Chairman Siddhartha Mohanty recently indicated the company’s interest in “inorganic growth” in health insurance. Current regulations prohibit insurers from offering life, general, and health insurance under a single entity, necessitating potential legislative changes. A parliamentary panel has recommended introducing a composite license to facilitate such integration.
LIC Plans Entry into Health Insurance Sector Through Acquisition
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