LIC shares climbed as reports emerged of talks to acquire half of ManipalCigna Health Insurance.

Life Insurance Corporation of India (LIC) shares rose after reports suggested LIC is in talks to acquire a 50% stake in ManipalCigna Health Insurance, a joint venture between the Manipal Group and Cigna Corporation. The acquisition would allow LIC to enter the growing health insurance market, which makes up 37% of India's general insurance sector. If completed, the deal could value ManipalCigna at around ₹4,000 crore, with LIC potentially paying ₹1,750-2,000 crore for the stake.

November 27, 2024
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