Life Insurance Corporation of India (LIC) is examining options to enter the fintech segment as part of its technology upgrade, as per PTI reports.
The insurer is considering either setting up a fintech arm on its own or acquiring a stake in an existing player, Managing Director and CEO R Doraiswamy said.
According to Doraiswamy, LIC is currently assessing different proposals and evaluating the value offered by available options before taking a decision.
This comes as LIC continues to update its technology infrastructure and business applications. The insurer has been working with fintech and insurtech firms to develop new digital solutions and improve operational processes.
Doraiswamy said LIC aims to make its systems more responsive to changing market requirements. He added that the corporation is exploring multiple arrangements with technology-focused companies while reviewing whether a long-term partnership would be suitable.
LIC has historically developed a large part of its technology infrastructure internally. The corporation operates a dedicated software development centre and employs a sizeable technology workforce to build and maintain business applications.
At the same time, the insurer relies on external technology service providers for infrastructure projects and platform development. According to the management, both internal capacity and outside partnerships remain necessary as technology requirements continue to evolve.
On the government's divestment plans, LIC said it remains prepared for any future reduction in the Centre's shareholding. The insurer raised about ₹21,000 crore through its Initial Public Offering (IPO) in 2022 after the government diluted 3.5% of its stake.
Management noted that the government continues to work towards meeting minimum public shareholding requirements for listed companies. However, the timing of any further share sale will depend on market conditions.
LIC reported a net profit of ₹23,420 crore in the March quarter, up 23% from a year earlier. The company described it as the highest quarterly profit reported by a financial services firm in India.
During the year, LIC announced a 1:1 bonus issue and recommended a final dividend of ₹10 per share for FY26, subject to shareholder approval.
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As of June 1, 2026, 12:01 pm, LIC share price was trading at ₹405.20, down 1.50% from the previous closing price.
The insurer is reviewing multiple fintech opportunities while continuing to modernise its technology infrastructure. A final decision on the structure and timing of the initiative is yet to be announced.
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Published on: Jun 1, 2026, 12:38 PM IST
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