May enter into health insurance; can explore inorganic options: LIC Chairman
The Free Press Journal|May 29, 2024
LIC chairman Siddhartha Mohanty has said that the insurer would enter into the health insurance segment and can explore inorganic options if such an opportunity arises.

There are expectations that composite licences may be permitted by Insurance Act. As per the Insurance Act, 1938, and the regulations of the Insurance Regulatory Development Authority of India (IRDAI), composite licensing for an insurer to undertake life, general, or health insurance under one entity is not allowed.

LIC is not an expert in general insurance like fire and engineering but it can do health insurance, he said.

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