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No special treatment from govt or any regulatory authority: LIC on USTR remark
The Statesman Kolkata
|April 05, 2025
The Life Insurance Corporation of India (LIC) on Friday said it receives no special treatment from the government or any regulatory authority, after a United States Trade Representative (USTR) report claimed that LIC is being given favourable treatment by the Centre.
The nation's largest insurer said in a statement that it "wishes to clarify that LIC is treated like any other insurance company by the Government and Regulators", urging the US agency for a more balanced and factual appreciation of its role.
"The guarantee — provided at the time of its establishment in 1956 — is a statutory provision designed to build public confidence in the early years of nationalisation. It has never been invoked or used as a marketing tool or provided any undue advantage to LIC," said the company.
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