India: LIC IPO could lead to more foreign interest in domestic insurance market
Source: Asia Insurance Review | Apr 2020
The Indian government’s proposed IPO of state-owned Life Insurance Corporation of India (LIC) could trickle down to the entire domestic insurance industry in terms of attracting more foreign interest.
This could result in an increase in foreign capital inflows into the industry, said Fitch Ratings.
The government proposed on 1 February 2020 to issue shares in LIC through an IPO to meet its highest ever disinvestment target of INR2.1tn ($29.3bn), set in the union budget for the fiscal year ending 31 March 2021. A