LIC to Decide on Health Insurance Foray by Month-End

LIFE Insurance Corporation of India (LIC) is hopeful of finalising its plans to enter the health insurance space by acquiring a stake in an operational company by the end of the month.

- BENN KOCHUVEEDAN@Mumbai

LIFE Insurance Corporation of India (LIC) is hopeful of finalising its plans to enter the health insurance space by acquiring a stake in an operational company by the end of the month. The state-owned life insurer has been looking for a right target company for almost a year now as the health segment has been growing much faster than the rest of the industry.

Last May the company made public its intent to get into the lucrative health insurance segment through a buyout. The interest was made public after the government hinted at coming out with a composite licence regime which is the more prevalent insurance model in most of the developed market.