LIC receives BSI Certification
The ISO 22301:2019 BCMS accreditation recognises the Insurer's ability to maintain robust business continuity practices, ensure uninterrupted services even during unforeseen disruptions, and effectively manage risk, the insurance company said in a release on Thursday.
ISO 22301:2019 is an international benchmark for business continuity management, focusing on minimizing operational disruptions and ensuring swift recovery in times of crisis.
Achieving this certification enhances LIC's reputation as a resilient organisation that is well-prepared to ensure continuity of services even in the face of unexpected challenges that may arise and serve customers seamlessly.
Speaking on this milestone, Siddhartha Mohanty, CEO & Managing Director, LIC said, " Receiving the prestigious ISO 22301:2019 certification stands as a testament to our commitment to ensuring business continuity in the face of any disruptive events and safeguarding the interests of our stakeholders, further strengthening confidence in LIC."
"Security and resilience have always been central to LIC's operational philosophy," stated Tablesh Pandey, Managing Director, LIC.
"Achieving ISO 22301 certification underscores our unwavering dedication to safeguarding the interests of millions of policyholders by ensuring secure, uninterrupted services, and consistently enhancing our preparedness against disruptions," Pandey added .
UNI KNR BD
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
35 minutes ago
- Business Standard
LIC inks $1 billion in bond derivatives as hedging gains traction
Life Insurance Corporation of India (LIC) has signed $1 billion worth of forward rate agreements (FRAs) with major Wall Street banks, marking a major push into bond derivatives. The move reflects the insurer's growing use of hedging tools as it looks to protect long-term returns amid rising market volatility and falling equity valuations. What's the latest According to a Bloomberg report, LIC has entered into FRA contracts with JPMorgan Chase & Co. and Bank of America Corp, locking in future bond yields to guard against declining interest rates. The $1 billion in FRA deals represents a sharp increase in LIC's derivatives activity, accounting for 38 per cent of the $2.6 billion cleared in India since May. Numbers game Share of total FRA trades since May: 38 per cent LIC asset base: $630 billion Loss in equity portfolio (Jun 30–Jul 25): ₹46,000 crore Portfolio value drop: ₹16.10 trillion → ₹15.64 trillion Equity portfolio value gain since Apr low: ₹1.94 trillion Nifty 50 index (Jul 25): 24,837 Sensex index (Jul 25): 81,463.09 What it means LIC's deepening foray into bond hedging marks a significant shift for India's largest institutional investor, indicating that even state-backed entities are now actively mitigating interest rate risk. As government bond auctions draw stronger demand and financial markets experience higher volatility, large investors like LIC are turning to derivatives to stabilise returns and manage risk exposures. This also points to increasing sophistication in India's financial risk management practices, especially among long-term asset holders. Backstory LIC began exploring bond derivatives in late 2024, initially executing small trades earlier this year. As market uncertainty grew, it gradually expanded its hedging strategy to include FRAs. Forward rate agreements allow the insurer to lock in interest rates for future bond purchases, with banks assuming the price risk. This hedging mechanism offers a buffer against rate cuts, which can reduce bond yields and impact LIC's long-term income streams. LIC equity portfolio losses At the same time, LIC has faced losses in its stock investments this month. As earlier reported by Business Standard, estimates show the market value of LIC's equity portfolio declined by ₹46,000 crore between June 30 and July 25, 2025, as benchmark indices Nifty 50 and BSE Sensex fell 2.6 per cent to 24,837 and 81,463.09, respectively. LIC's 322-stock portfolio declined from ₹16.10 trillion to ₹15.64 trillion over that period. Still, the portfolio is ₹1.94 trillion higher than it was in early April, when markets hit their lowest point in a year.
Time of India
2 hours ago
- Time of India
India's insurance giant LIC turns to Wall Street banks to hedge risk
Life Insurance Corp. of India is working with some of Wall Street's largest banks to hedge its liabilities, according to people familiar with the matter. The nation's largest insurer has entered into $1 billion worth of bond forward rate agreements with banks including JPMorgan Chase & Co. and Bank of America Corp. over the past two months, the people said, asking not to be identified as they are not authorized to speak publicly. Explore courses from Top Institutes in Please select course: Select a Course Category Product Management Others Project Management Design Thinking Finance Digital Marketing Public Policy Data Science Artificial Intelligence healthcare MBA Leadership Cybersecurity Management Degree Data Science Data Analytics Operations Management CXO PGDM Skills you'll gain: Product Strategy & Roadmapping User-Centric Product Design Agile Product Development Market Analysis & Product Launch Duration: 24 Weeks Indian School of Business Professional Certificate in Product Management Starts on Jun 26, 2024 Get Details Skills you'll gain: Product Strategy & Competitive Advantage Tactics Product Development Processes & Market Orientations Product Analytics & Data-Driven Decision Making Agile Development, Design Thinking, & Product Leadership Duration: 40 Weeks IIM Kozhikode Professional Certificate in Product Management Starts on Jun 26, 2024 Get Details In November, LIC announced plans to enter the bond derivatives market and conducted a few small trades earlier this year. Since then, it has stepped up its activity — its recent deals have accounted for 38% of the total $2.6 billion in forward rate agreement volumes since May, according to data on the Clearing Corp. of India's website. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Elegant New Scooters For Seniors In 2024: The Prices May Surprise You Mobility Scooter | Search Ads Learn More Undo This surge highlights the growing sophistication of India's financial players. As more Indian families invest in financial markets, insurers like LIC — which oversees $630 billion in assets — are driving demand for diverse investments and hedging options. FRAs, in particular, have become popular as they allow insurers to lock in future bond yields and shield them from falling interest rates that could reduce their income. Officials at the LIC and Bank of America did not respond to requests for comment made via email and phone, while a spokesperson for JPMorgan Chase declined to comment. Live Events In FRA, an insurer agrees to buy a bond at a set price on a future date. The counterparty — typically a bank — takes on the risk of bond price changes and receives a premium in return. To manage this risk, banks often buy long-term bonds that match the terms of the contract. LIC's growing activity in this market has boosted the demand for long-term bonds, the people said. In fact, the last two auctions for these bonds have seen the highest bid-to-cover ratios of the current fiscal year that began April 1, according to data compiled by Bloomberg.
Mint
2 hours ago
- Mint
India's Insurance Giant Turns to Wall Street Banks to Hedge Risk
(Bloomberg) -- Life Insurance Corp. of India is working with some of Wall Street's largest banks to hedge its liabilities, according to people familiar with the matter. The nation's largest insurer has entered into $1 billion worth of bond forward rate agreements with banks including JPMorgan Chase & Co. and Bank of America Corp. over the past two months, the people said, asking not to be identified as they are not authorized to speak publicly. In November, LIC announced plans to enter the bond derivatives market and conducted a few small trades earlier this year. Since then, it has stepped up its activity — its recent deals have accounted for 38% of the total $2.6 billion in forward rate agreement volumes since May, according to data on the Clearing Corp. of India's website. This surge highlights the growing sophistication of India's financial players. As more Indian families invest in financial markets, insurers like LIC — which oversees $630 billion in assets — are driving demand for diverse investments and hedging options. FRAs, in particular, have become popular as they allow insurers to lock in future bond yields and shield them from falling interest rates that could reduce their income. Officials at the LIC and Bank of America did not respond to requests for comment made via email and phone, while a spokesperson for JPMorgan Chase declined to comment. In FRA, an insurer agrees to buy a bond at a set price on a future date. The counterparty — typically a bank — takes on the risk of bond price changes and receives a premium in return. To manage this risk, banks often buy long-term bonds that match the terms of the contract. LIC's growing activity in this market has boosted the demand for long-term bonds, the people said. In fact, the last two auctions for these bonds have seen the highest bid-to-cover ratios of the current fiscal year that began April 1, according to data compiled by Bloomberg. More stories like this are available on
