LIC of India , the country's largest insurer, has increased its shareholding in State Bank of India (SBI), according to a regulatory filing on July 21, 2025. The move underscores LIC's continued confidence in India's largest public sector bank.

Stake Increase Details

LIC has raised its stake in SBI from 9.21% to 9.49% of the bank's paid-up capital. This increase translates to a jump in LIC's shareholding from 81,46,59,869 equity shares to 87,58,59,380 equity shares.

Regulatory Compliance

The insurance giant disclosed this information in compliance with Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015. LIC's Company Secretary and Compliance Officer, Anshul Kumar Singh, signed the regulatory filing.

Market Implications

This move by LIC, a significant institutional investor in the Indian market, could be seen as a vote of confidence in SBI's future prospects. The increased stake might also influence SBI's stock performance and investor sentiment in the coming days.

About LIC

LIC of India is the largest life insurer in India, with a significant presence in both urban and rural markets. As a major institutional investor, LIC's investment decisions are closely watched by market participants for insights into market trends and corporate performance.

The company's strategic investments, such as this increased stake in SBI, play a crucial role in its portfolio management and can have broader implications for the Indian financial sector.

LIC of India , the country's largest insurer, has announced a significant leadership change. R Doraiswamy has been appointed as the new Chief Executive Officer (CEO) and Managing Director of LIC, marking a new chapter in the company's storied history.

Appointment Details

According to a regulatory filing by LIC, R Doraiswamy assumed the role of CEO and Managing Director on July 14, 2025. The appointment, made by the Government of India, is for a three-year term or until Doraiswamy reaches the age of 62 (August 28, 2028), whichever comes first.

Extensive Experience

Doraiswamy brings a wealth of experience to his new role, with over 39 years in the insurance industry. Prior to this appointment, he served as a Managing Director at LIC, overseeing crucial areas such as marketing through bancassurance, group business, customer relations, finance, and compliance functions.

Career Highlights

Throughout his career, Doraiswamy has held various leadership positions within LIC, including:

• Executive Director (Information Technology/Software Development)
• Regional Manager (Marketing / Chief Life Insurance Advisor)
• Regional Manager (Pension & Group Schemes) at Southern Zonal Office, Chennai
• Senior Divisional Manager of Kottayam Division
• Marketing Manager of Chennai-I, Thanjavur and Pune divisions

Technological Advancements

One of Doraiswamy's notable achievements has been his instrumental role in driving IT initiatives within LIC. As Chief & Executive Director, he spearheaded the modernization of IT infrastructure and business applications for LIC's individual business segment, showcasing his commitment to technological advancement in the insurance sector.

Educational Background

Doraiswamy's academic credentials include:

• Graduate in Mathematics from Madurai Kamaraj University
• Fellow Member of the Insurance Institute of India
• Student member of the Institute of Actuaries of India

Leadership Transition

Doraiswamy succeeds Sat Pal Bhanoo, who was serving as the interim CEO. With this appointment, Bhanoo ceases to hold the financial and administrative powers and functions of the CEO & MD position.

Market Response

As of the latest available data, LIC shares closed at ₹916.00, which is below their initial public offering (IPO) price of ₹949.00. This price movement suggests that investors are closely watching the company's performance and leadership changes.

The appointment of R Doraiswamy, with his extensive experience and track record in driving technological advancements, signals LIC's focus on modernization and growth in an increasingly competitive insurance market. Stakeholders will be keen to see how Doraiswamy's leadership will shape the future direction of India's largest life insurer.