LIC clarified that it is exploring various strategic opportunities, including in health insurance, but there is no material event requiring disclosure at this time, as per its filing to the stock exchanges.

India's largest public sector insurer, Life Insurance Corporation of India (LIC) on Thursday (November 28) through the regulatory filing issued a clarification related to speculation about the company's potential acquisition of a 50 per cent stake in ManipalCigna Health Insurance.

LIC plans to buy half of ManipalCigna Health Insurance. The deal could be worth ₹4,000 crore. This move will let LIC enter the health insurance market. ManipalCigna is a joint venture between Manipal Group and Cigna Corporation.

LIC clarified that it is exploring various strategic opportunities, including in health insurance, but currently no material information requires disclosure regarding a potential 50% stake acquisition in ManipalCigna Health Insurance.

The discussions, in their early stages, aim to help LIC diversify beyond life insurance and tap into the growing health insurance demand

LIC is in talks to acquire a 50% stake in ManipalCigna Health Insurance, valued at Rs 4,000 crore, signaling its entry into the health insurance sector. The deal would diversify LIC's portfolio and leverage rising demand for medical coverage.

State-owned LIC's shares rose 2.4% on news of a potential 50% stake acquisition in ManipalCigna Health Insurance. This move would mark LIC's entry into the health insurance sector, diversifying its portfolio.