Life Insurance Corp. of India (LIC), which has often stepped in to bail out the government’s disinvestment programme and stressed lenders, plans to avoid excessive investment risks and strengthen corporate governance as the country’s largest insurer faces more scrutiny as a publicly traded company.
The state-run insurance behemoth, also India’s largest institutional investor, plans to alter its investment strategy and strengthen its ‘materiality’ policy regarding related-party transactions, two people close to LIC said, requesting anonymity.
