LIC, India's largest insurer, is in advanced talks to acquire up to 50% of the stake in ManipalCigna Health Insurance.
This move marks LIC's entry into the growing health insurance market, which remains underserved. Currently, ManipalCigna is a joint venture between the Manipal Education & Medical Group, which holds a 51% stake, and the US-based Cigna Corporation, with 49%. The acquisition would allow LIC to diversify its offerings beyond life insurance and tap into the expanding demand for health coverage in India.