Life Insurance Corporation of India (LIC) is set to enter the health insurance market. CEO Siddhartha Mohanty told CNBC-TV18 on Tuesday, March 18, that the company is in the final stages of acquiring a health insurance firm.
However, Mohanty clarified that LIC will not have a majority stake in the acquired company.
This move will help LIC expand in the insurance sector by using its large customer base and strong distribution network. Earlier, Mohanty had mentioned LIC’s interest in the health insurance business.
Source: CNBC-TV18
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